Jump Financial LLC Cuts Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Jump Financial LLC lowered its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 49.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,999 shares of the shipping company's stock after selling 95,392 shares during the quarter. Jump Financial LLC's holdings in Golden Ocean Group were worth $860,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GOGL. Bank of New York Mellon Corp boosted its position in shares of Golden Ocean Group by 229.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock valued at $10,208,000 after purchasing an additional 793,470 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Golden Ocean Group by 196.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock valued at $8,614,000 after buying an additional 637,103 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Golden Ocean Group by 2,893.9% during the 4th quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company's stock worth $3,711,000 after buying an additional 400,289 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Golden Ocean Group during the 4th quarter worth approximately $1,591,000. Finally, Denali Advisors LLC increased its stake in shares of Golden Ocean Group by 27.3% in the 4th quarter. Denali Advisors LLC now owns 620,490 shares of the shipping company's stock valued at $5,560,000 after acquiring an additional 133,200 shares in the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group dropped their target price 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.

Golden Ocean Group Stock Up 0.4 %

GOGL stock traded up $0.03 during trading on Friday, reaching $7.77. 3,203,290 shares of the stock were exchanged, compared to its average volume of 2,240,201. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a twelve month low of $6.27 and a twelve month high of $15.77. The firm's 50 day moving average is $8.04 and its 200 day moving average is $9.29. The firm has a market cap of $1.55 billion, a P/E ratio of 6.42 and a beta of 1.10.

Golden Ocean Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.72%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio (DPR) is 53.57%.

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.