Jacobs Levy Equity Management Inc. Decreases Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Jacobs Levy Equity Management Inc. lessened its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 641,809 shares of the shipping company's stock after selling 52,481 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.32% of Golden Ocean Group worth $5,751,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Golden Ocean Group by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company's stock worth $5,947,000 after acquiring an additional 106,966 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Golden Ocean Group by 70.6% during the fourth quarter. Harbour Capital Advisors LLC now owns 41,515 shares of the shipping company's stock worth $378,000 after buying an additional 17,185 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Golden Ocean Group by 196.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock worth $8,614,000 after buying an additional 637,103 shares in the last quarter. Dakota Wealth Management bought a new position in shares of Golden Ocean Group during the fourth quarter worth about $770,000. Finally, SG Americas Securities LLC grew its stake in Golden Ocean Group by 26.7% in the fourth quarter. SG Americas Securities LLC now owns 59,951 shares of the shipping company's stock valued at $537,000 after purchasing an additional 12,647 shares in the last quarter. Institutional investors and hedge funds own 22.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOGL. StockNews.com began coverage on Golden Ocean Group in a research report on Wednesday. They issued a "hold" rating for the company. Jefferies Financial Group cut their price objective on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd.

Golden Ocean Group Price Performance

Golden Ocean Group stock traded up $0.07 during mid-day trading on Friday, reaching $8.06. 1,735,388 shares of the company were exchanged, compared to its average volume of 2,262,109. Golden Ocean Group Limited has a 12 month low of $6.27 and a 12 month high of $15.77. The company has a fifty day simple moving average of $7.61 and a 200-day simple moving average of $8.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $1.61 billion, a PE ratio of 6.66 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. Investors of record on Tuesday, March 11th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 7.44%. 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.