Renaissance Technologies LLC Boosts Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Renaissance Technologies LLC raised its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 119.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,907 shares of the shipping company's stock after purchasing an additional 76,207 shares during the quarter. Renaissance Technologies LLC owned 0.07% of Golden Ocean Group worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Golden Ocean Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,798,672 shares of the shipping company's stock valued at $50,978,000 after acquiring an additional 71,918 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Golden Ocean Group by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,663,334 shares of the shipping company's stock worth $14,903,000 after acquiring an additional 9,041 shares during the period. Bank of New York Mellon Corp raised its holdings in Golden Ocean Group by 229.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock worth $10,208,000 after purchasing an additional 793,470 shares during the period. Empowered Funds LLC grew its stake in shares of Golden Ocean Group by 3.6% during the 4th quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company's stock valued at $8,629,000 after acquiring an additional 33,241 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Golden Ocean Group by 196.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock valued at $8,614,000 after purchasing an additional 637,103 shares in the last quarter. Hedge funds and other institutional investors own 22.00% of the company's stock.

Golden Ocean Group Stock Up 2.1 %

Shares of NASDAQ:GOGL traded up $0.16 on Friday, reaching $7.82. The company had a trading volume of 1,787,219 shares, compared to its average volume of 2,250,475. 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 firm has a market capitalization of $1.56 billion, a PE ratio of 6.46 and a beta of 1.10. Golden Ocean Group Limited has a 52-week low of $6.27 and a 52-week high of $15.77. The firm's 50 day simple moving average is $7.87 and its 200-day simple moving average is $9.18.

Golden Ocean Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.67%. Golden Ocean Group's dividend payout ratio is currently 53.57%.

Analyst Ratings Changes

Separately, Jefferies Financial Group dropped their target price on shares of 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 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.