Golden Ocean Group Limited (NASDAQ:GOGL) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,654,293 shares of the shipping company’s stock after selling 1,245 shares during the period. Geode Capital Management LLC owned approximately 0.83% of Golden Ocean Group worth $22,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GOGL. Two Sigma Advisers LP lifted its stake in shares of Golden Ocean Group by 6.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock worth $36,817,000 after purchasing an additional 177,100 shares during the period. Marshall Wace LLP grew its stake in shares of Golden Ocean Group by 96.9% during the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock valued at $21,491,000 after acquiring an additional 766,436 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Golden Ocean Group by 55.5% during the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company’s stock worth $16,219,000 after purchasing an additional 417,539 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Golden Ocean Group by 42.7% during the second quarter. Acadian Asset Management LLC now owns 991,898 shares of the shipping company’s stock worth $13,683,000 after purchasing an additional 296,842 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Golden Ocean Group by 5.4% during the third quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company’s stock worth $12,440,000 after purchasing an additional 47,302 shares during the last quarter. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

NASDAQ GOGL opened at $8.87 on Friday. The business’s fifty day moving average is $10.38 and its two-hundred day moving average is $11.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. Golden Ocean Group Limited has a 1 year low of $8.52 and a 1 year high of $15.77. The stock has a market capitalization of $1.77 billion, a P/E ratio of 7.33 and a beta of 1.16.

Golden Ocean Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.53%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group’s dividend payout ratio (DPR) is currently 99.17%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOGL. Pareto Securities reissued a “hold” rating and issued a $12.50 target price on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group lowered their price objective on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Finally, StockNews.com cut Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.