Praetorian PR LLC Takes $2.69 Million Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Praetorian PR LLC purchased a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 300,000 shares of the shipping company's stock, valued at approximately $2,688,000. Golden Ocean Group comprises about 1.1% of Praetorian PR LLC's investment portfolio, making the stock its 14th largest holding. Praetorian PR LLC owned approximately 0.15% of Golden Ocean Group as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in GOGL. Northern Trust Corp boosted its holdings in Golden Ocean Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 947,740 shares of the shipping company's stock valued at $8,492,000 after purchasing an additional 84,645 shares during the period. Quarry LP boosted 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 during the period. Aquatic Capital Management LLC boosted its stake in shares of Golden Ocean Group by 31.6% in the fourth quarter. Aquatic Capital Management LLC now owns 30,137 shares of the shipping company's stock valued at $270,000 after buying an additional 7,237 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Golden Ocean Group during the fourth quarter worth approximately $484,000. Finally, Two Sigma Securities LLC bought a new position in Golden Ocean Group during the 4th quarter worth $141,000. 22.00% of the stock is currently owned by institutional investors.

Golden Ocean Group Price Performance

Shares of NASDAQ:GOGL opened at $7.66 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.53 billion, a PE ratio of 6.33 and a beta of 1.10. The firm has a 50 day moving average of $7.90 and a 200-day moving average of $9.21. Golden Ocean Group Limited has a 12 month low of $6.27 and a 12 month high of $15.77.

Golden Ocean Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.83%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio is presently 53.57%.

Wall Street Analyst Weigh In

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.