Hsbc Holdings PLC Has $11.69 Million Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Hsbc Holdings PLC lessened its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,331,055 shares of the shipping company's stock after selling 266,221 shares during the quarter. Hsbc Holdings PLC owned approximately 0.67% of Golden Ocean Group worth $11,694,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. MetLife Investment Management LLC grew its holdings in Golden Ocean Group by 1.7% in the 4th quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company's stock valued at $641,000 after buying an additional 1,201 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Golden Ocean Group by 0.6% during the fourth quarter. Swiss National Bank now owns 257,524 shares of the shipping company's stock worth $2,259,000 after buying an additional 1,658 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Golden Ocean Group by 47.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock worth $47,000 after buying an additional 1,694 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Golden Ocean Group by 683.1% during the fourth 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 in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Golden Ocean Group by 9.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 36,786 shares of the shipping company's stock worth $330,000 after buying an additional 3,106 shares in the last quarter. Institutional investors and hedge funds own 22.00% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group dropped their target price on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd.

Golden Ocean Group Stock Performance

Shares of GOGL traded down $0.06 during midday trading on Thursday, reaching $7.66. 1,674,582 shares of the stock were exchanged, compared to its average volume of 2,246,034. The company has a market cap of $1.53 billion, a P/E ratio of 6.33 and a beta of 1.10. The stock's 50 day simple moving average is $7.93 and its 200 day simple moving average is $9.23. Golden Ocean Group Limited has a twelve month low of $6.27 and a twelve month high of $15.77. 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 business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio (DPR) 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.