Golden Ocean Group Limited (NASDAQ:GOGL) Stock Position Lessened by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 641,809 shares of the shipping company's stock after selling 52,481 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.32% of Golden Ocean Group worth $5,751,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of Golden Ocean Group by 683.1% in 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 last quarter. Sterling Capital Management LLC lifted its holdings in Golden Ocean Group by 830.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock worth $35,000 after acquiring an additional 3,478 shares during the last quarter. Quarry LP boosted its stake in Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock valued at $45,000 after acquiring an additional 3,294 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Golden Ocean Group during the fourth quarter valued at approximately $46,000. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 purchasing an additional 1,694 shares during the period. 22.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GOGL shares. 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 report on Wednesday, April 23rd. StockNews.com assumed coverage on Golden Ocean Group in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock.

Golden Ocean Group Stock Performance

NASDAQ GOGL traded down $0.12 on Monday, hitting $7.95. The stock had a trading volume of 634,364 shares, compared to its average volume of 2,255,777. The company's 50-day moving average is $7.61 and its two-hundred day moving average is $8.94. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $15.77. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 6.57 and a beta of 1.06. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were given 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 7.55%. Golden Ocean Group's dividend payout ratio is presently 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.