Graham Capital Management L.P. Makes New $1.59 Million Investment 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 its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 177,250 shares of the shipping company's stock, valued at approximately $1,588,000. Graham Capital Management L.P. owned 0.09% of Golden Ocean Group as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its holdings in 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 purchasing an additional 2,391 shares during the last quarter. Sterling Capital Management LLC grew its position 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 valued at $35,000 after acquiring an additional 3,478 shares during the period. Quarry LP increased its stake in shares of 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 buying an additional 3,294 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Golden Ocean Group in the fourth quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC boosted its holdings in 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 acquiring an additional 1,694 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company's stock.

Golden Ocean Group Stock Performance

GOGL traded up $0.07 during trading on Friday, hitting $8.06. The stock had a trading volume of 1,735,388 shares, compared to its average volume of 2,262,109. The company has a 50 day moving average price of $7.61 and a 200-day moving average price of $8.94. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 6.66 and a beta of 1.06. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $15.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22.

Golden Ocean Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were issued a $0.15 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.44%. Golden Ocean Group's dividend payout ratio is presently 53.57%.

Analysts Set New Price Targets

GOGL has been the topic of a number of recent analyst reports. Jefferies Financial Group reduced their target price 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 began coverage on Golden Ocean Group in a research report on Wednesday. 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.