D. E. Shaw & Co. Inc. Decreases Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

D. E. Shaw & Co. Inc. lessened its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 49.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 319,482 shares of the shipping company's stock after selling 317,658 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.16% of Golden Ocean Group worth $2,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jones Financial Companies Lllp increased 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 period. Sterling Capital Management LLC increased its stake in shares of Golden Ocean Group by 830.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock valued at $35,000 after buying an additional 3,478 shares during the period. Quarry LP increased its stake in shares of Golden Ocean Group by 195.3% during the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock valued at $45,000 after buying an additional 3,294 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Golden Ocean Group during the fourth quarter valued at $46,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Golden Ocean Group by 47.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock valued at $47,000 after buying an additional 1,694 shares during the period. Hedge funds and other institutional investors own 22.00% of the company's stock.

Wall Street Analysts Forecast Growth

GOGL has been the topic of several research reports. Jefferies Financial Group cut their price target on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. StockNews.com initiated coverage on Golden Ocean Group in a research note on Wednesday, May 14th. They set a "hold" rating on the stock.

Golden Ocean Group Stock Performance

Shares of Golden Ocean Group stock opened at $7.99 on Tuesday. Golden Ocean Group Limited has a 12 month low of $6.27 and a 12 month high of $15.77. The stock's fifty day moving average price is $7.61 and its 200-day moving average price is $8.92. The firm has a market cap of $1.60 billion, a P/E ratio of 6.60 and a beta of 1.06. 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 Cuts Dividend

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

Golden Ocean Group 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.

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