Two Sigma Investments LP Sells 430,615 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Two Sigma Investments LP decreased its holdings in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,369,826 shares of the shipping company's stock after selling 430,615 shares during the quarter. Two Sigma Investments LP owned 0.68% of Golden Ocean Group worth $12,274,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its position in shares of 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 valued at $25,000 after buying an additional 2,391 shares during the last quarter. Sterling Capital Management LLC lifted its stake 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 valued at $35,000 after acquiring an additional 3,478 shares in the last quarter. Quarry LP boosted 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 acquiring an additional 3,294 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Golden Ocean Group in the 4th quarter worth $46,000. Finally, Tower Research Capital LLC TRC raised its holdings 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 valued at $47,000 after purchasing an additional 1,694 shares during the last quarter. Institutional investors and hedge funds own 22.00% of the company's stock.

Golden Ocean Group Stock Performance

NASDAQ:GOGL traded up $0.05 during trading on Tuesday, reaching $7.28. The company's stock had a trading volume of 2,077,566 shares, compared to its average volume of 2,246,777. Golden Ocean Group Limited has a 12 month low of $6.27 and a 12 month high of $14.82. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 6.02 and a beta of 1.06. The firm has a 50 day moving average of $7.57 and a 200-day moving average of $8.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $115.00 million for the quarter, compared to the consensus estimate of $106.48 million. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. Research analysts expect that Golden Ocean Group Limited will post 1.14 EPS for the current fiscal year.

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. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 8.24%. Golden Ocean Group's payout ratio is currently 35.09%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GOGL shares. Jefferies Financial Group dropped 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 research report on Wednesday, April 23rd. Wall Street Zen initiated coverage on shares of Golden Ocean Group in a research report on Thursday, May 22nd. They set a "hold" rating on the stock.

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.