Gotham Asset Management LLC Has $876,000 Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Gotham Asset Management LLC raised its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 57.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,723 shares of the shipping company's stock after buying an additional 35,583 shares during the quarter. Gotham Asset Management LLC's holdings in Golden Ocean Group were worth $876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. New York State Common Retirement Fund lifted its stake in Golden Ocean Group by 16.5% in the 4th quarter. New York State Common Retirement Fund now owns 222,238 shares of the shipping company's stock worth $1,991,000 after acquiring an additional 31,500 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Golden Ocean Group by 3.6% in the 4th quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company's stock valued at $8,629,000 after purchasing an additional 33,241 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Golden Ocean Group by 2,893.9% in the 4th quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company's stock valued at $3,711,000 after purchasing an additional 400,289 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Golden Ocean Group in the fourth quarter worth approximately $46,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Golden Ocean Group during the fourth quarter worth approximately $519,000. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOGL. StockNews.com began coverage on shares of Golden Ocean Group in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Jefferies Financial Group lowered their price target on shares of 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 Stock Down 2.5%

GOGL stock traded down $0.20 during mid-day trading on Tuesday, hitting $7.79. The stock had a trading volume of 2,084,856 shares, compared to its average volume of 2,262,639. Golden Ocean Group Limited has a 1-year low of $6.27 and a 1-year high of $15.77. The company has a fifty day moving average of $7.61 and a 200 day moving average of $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. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 6.44 and a beta of 1.06.

Golden Ocean Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 7.70%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's payout ratio is 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.