Balyasny Asset Management L.P. Sells 33,819 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Balyasny Asset Management L.P. lowered its position in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 22.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,404 shares of the shipping company's stock after selling 33,819 shares during the period. Balyasny Asset Management L.P. owned approximately 0.06% of Golden Ocean Group worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Golden Ocean Group by 683.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after purchasing an additional 2,391 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Golden Ocean Group by 830.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock worth $35,000 after purchasing an additional 3,478 shares during the last quarter. Quarry LP lifted its stake in Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock worth $45,000 after purchasing an additional 3,294 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Golden Ocean Group in the fourth quarter worth about $46,000. Finally, Tower Research Capital LLC TRC lifted its stake in Golden Ocean Group by 47.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock worth $47,000 after purchasing an additional 1,694 shares during the last quarter. Institutional investors own 22.00% of the company's stock.

Golden Ocean Group Trading Down 0.9%

Shares of Golden Ocean Group stock traded down $0.07 on Monday, hitting $7.99. 1,887,263 shares of the company traded hands, compared to its average volume of 2,260,610. The stock's 50 day moving average price is $7.61 and its 200-day moving average price is $8.92. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $15.77. The company has a market cap of $1.60 billion, a PE ratio of 6.60 and a beta of 1.06.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 7.51%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio is presently 53.57%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Golden Ocean Group in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Jefferies Financial Group decreased their price objective on shares of Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd.

Golden Ocean Group Company Profile

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.