Marshall Wace LLP Decreases Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Marshall Wace LLP lessened its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 51.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 546,476 shares of the shipping company's stock after selling 577,402 shares during the quarter. Marshall Wace LLP owned approximately 0.27% of Golden Ocean Group worth $4,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. New York State Common Retirement Fund grew its holdings in Golden Ocean Group by 16.5% in the 4th quarter. New York State Common Retirement Fund now owns 222,238 shares of the shipping company's stock worth $1,991,000 after acquiring an additional 31,500 shares during the last quarter. Empowered Funds LLC grew its position in shares of Golden Ocean Group by 3.6% in the 4th quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company's stock worth $8,629,000 after buying an additional 33,241 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Golden Ocean Group by 2,893.9% in the fourth quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company's stock worth $3,711,000 after acquiring an additional 400,289 shares during the period. JPMorgan Chase & Co. increased its position in Golden Ocean Group by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company's stock valued at $5,947,000 after purchasing an additional 106,966 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Golden Ocean Group in the 4th quarter worth about $46,000. Institutional investors own 22.00% of the company's stock.

Wall Street Analyst Weigh In

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

Golden Ocean Group Stock Up 0.7 %

Shares of Golden Ocean Group stock traded up $0.05 during trading on Wednesday, hitting $7.72. The company's stock had a trading volume of 2,005,221 shares, compared to its average volume of 2,248,320. The company has a fifty day simple moving average of $7.93 and a two-hundred day simple moving average of $9.23. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $15.77. The company has a market capitalization of $1.54 billion, a PE ratio of 6.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current 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 paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's payout ratio is 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.