D. E. Shaw & Co. Inc. Sells 317,658 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in Golden Ocean Group by 683.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after buying an additional 2,391 shares during the period. Sterling Capital Management LLC lifted its holdings 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 buying an additional 3,478 shares during the period. Quarry LP lifted its holdings in Golden Ocean Group by 195.3% during the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company's stock worth $45,000 after buying an additional 3,294 shares during the period. SBI Securities Co. Ltd. acquired a new position in Golden Ocean Group during the 4th quarter worth about $46,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Golden Ocean Group by 47.1% during the 4th 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. 22.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOGL has been the topic of several recent research reports. Wall Street Zen initiated coverage on Golden Ocean Group in a report on Thursday. They set a "hold" rating on the stock. Jefferies Financial Group cut their target price on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd.

Golden Ocean Group Trading Up 0.8%

Shares of GOGL stock traded up $0.06 during mid-day trading on Friday, hitting $7.23. The company's stock had a trading volume of 2,322,489 shares, compared to its average volume of 2,247,456. The company's fifty day simple moving average is $7.58 and its 200-day simple moving average is $8.81. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $14.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $1.45 billion, a PE ratio of 5.98 and a beta of 1.06.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The shipping company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. The business had revenue of $115.00 million during the quarter, compared to the consensus estimate of $106.48 million. As a group, equities research analysts expect that Golden Ocean Group Limited will post 1.14 earnings per share for the current fiscal year.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 8.30%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's payout ratio is 53.57%.

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.