Susquehanna Fundamental Investments LLC Buys New Shares in Golden Ocean Group Limited (NASDAQ:GOGL)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,968 shares of the shipping company's stock, valued at approximately $484,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its position 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 valued at $1,991,000 after purchasing an additional 31,500 shares in the last quarter. Empowered Funds LLC raised its stake in Golden Ocean Group by 3.6% during the 4th quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company's stock worth $8,629,000 after acquiring an additional 33,241 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Golden Ocean Group by 2,893.9% in the 4th quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company's stock valued at $3,711,000 after purchasing an additional 400,289 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 worth $5,947,000 after buying an additional 106,966 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Golden Ocean Group in the 4th quarter valued at $46,000. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOGL has been the subject of several analyst reports. StockNews.com began coverage on Golden Ocean Group in a research note on Tuesday. They set a "hold" rating for the company. Jefferies Financial Group decreased their price target on 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 Price Performance

Shares of NASDAQ GOGL traded down $0.10 during trading on Wednesday, reaching $7.63. The company had a trading volume of 1,783,452 shares, compared to its average volume of 2,246,735. The stock has a market capitalization of $1.53 billion, a PE ratio of 6.31 and a beta of 1.06. Golden Ocean Group Limited has a twelve month low of $6.27 and a twelve month high of $15.77. 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 50-day moving average price of $7.79 and a two-hundred day moving average price of $9.12.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.86%. Golden Ocean Group's payout ratio is currently 53.57%.

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.