Numerai GP LLC Decreases Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Numerai GP LLC cut its holdings in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 74.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,900 shares of the shipping company's stock after selling 141,902 shares during the period. Numerai GP LLC's holdings in Golden Ocean Group were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOGL. Jones Financial Companies Lllp lifted its stake 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 valued at $25,000 after buying an additional 2,391 shares in the last quarter. Sterling Capital Management LLC grew its stake 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 worth $35,000 after purchasing an additional 3,478 shares in the last quarter. Quarry LP boosted its stake in 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 acquiring an additional 3,294 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Golden Ocean Group during the fourth quarter valued at approximately $46,000. Finally, Tower Research Capital LLC TRC raised 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 valued at $47,000 after buying an additional 1,694 shares during the last quarter. Institutional investors and hedge funds own 22.00% of the company's stock.

Golden Ocean Group Stock Performance

Shares of GOGL stock traded down $0.07 during midday trading on Monday, hitting $7.99. 1,887,263 shares of the company were exchanged, compared to its average volume of 2,260,610. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $15.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. The firm's 50 day moving average price is $7.61 and its two-hundred day moving average price is $8.94. The firm has a market capitalization of $1.60 billion, a P/E ratio of 6.60 and a beta of 1.06.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.51%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group's payout ratio is presently 53.57%.

Analyst Ratings Changes

GOGL has been the topic of several research analyst reports. StockNews.com assumed coverage on shares of Golden Ocean Group in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Jefferies Financial Group decreased their price target on shares of Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd.

Golden Ocean Group Company 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.