Golden Ocean Group Limited (NASDAQ:GOGL) Holdings Lifted by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC grew its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,651,405 shares of the shipping company's stock after purchasing an additional 33,241 shares during the period. Bridgeway Capital Management LLC owned 0.83% of Golden Ocean Group worth $14,797,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp increased its stake in Golden Ocean Group by 683.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after acquiring an additional 2,391 shares during the last quarter. Sterling Capital Management LLC boosted its position in Golden Ocean Group by 830.1% during the 4th 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 period. Quarry LP increased its holdings in Golden Ocean Group by 195.3% in the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company's stock valued at $45,000 after purchasing an additional 3,294 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Golden Ocean Group during the fourth quarter worth about $46,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of 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 buying an additional 1,694 shares during the period. Institutional investors and hedge funds own 22.00% of the company's stock.

Golden Ocean Group Stock Down 2.0 %

Shares of GOGL traded down $0.15 during midday trading on Friday, hitting $7.48. The company had a trading volume of 2,067,091 shares, compared to its average volume of 2,250,759. The company has a quick ratio of 1.22, a current 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's 50 day moving average price is $7.65 and its 200 day moving average price is $9.05. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 6.18 and a beta of 1.06.

Golden Ocean Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio is presently 53.57%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. StockNews.com initiated coverage on Golden Ocean Group in a research report on Tuesday, May 6th. They set a "hold" rating on the stock. Jefferies Financial Group dropped their target price on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd.

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.