Graham Capital Management L.P. Invests $1.59 Million in Golden Ocean Group Limited (NASDAQ:GOGL)

Graham Capital Management L.P. bought a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 177,250 shares of the shipping company's stock, valued at approximately $1,588,000. Graham Capital Management L.P. owned about 0.09% of Golden Ocean Group as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOGL. JPMorgan Chase & Co. lifted its holdings in shares of Golden Ocean Group by 31.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company's stock worth $5,947,000 after purchasing an additional 106,966 shares during the last quarter. Harbour Capital Advisors LLC increased its position in Golden Ocean Group by 70.6% in the 4th quarter. Harbour Capital Advisors LLC now owns 41,515 shares of the shipping company's stock valued at $378,000 after acquiring an additional 17,185 shares during the period. Assenagon Asset Management S.A. increased its position in Golden Ocean Group by 196.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock valued at $8,614,000 after acquiring an additional 637,103 shares during the period. Dakota Wealth Management acquired a new stake in Golden Ocean Group in the 4th quarter valued at approximately $770,000. Finally, SG Americas Securities LLC increased its position in Golden Ocean Group by 26.7% in the 4th quarter. SG Americas Securities LLC now owns 59,951 shares of the shipping company's stock valued at $537,000 after acquiring an additional 12,647 shares during the period. Institutional investors own 22.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com assumed coverage on Golden Ocean Group in a research report on Wednesday. They set a "hold" rating on the stock. Jefferies Financial Group lowered their price target on 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.

Golden Ocean Group Price Performance

Shares of GOGL traded up $0.07 during trading hours on Friday, hitting $8.06. 1,735,388 shares of the company were exchanged, compared to its average volume of 2,262,109. The company has a market capitalization of $1.61 billion, a PE ratio of 6.66 and a beta of 1.06. 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 fifty day simple moving average of $7.61 and a 200-day simple moving average of $8.95. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $15.77.

Golden Ocean Group Cuts Dividend

The business also recently disclosed 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. This represents a $0.60 annualized dividend and a dividend yield of 7.44%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio is presently 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.