Quantbot Technologies LP Decreases Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Quantbot Technologies LP lowered its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 22.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,358 shares of the shipping company’s stock after selling 51,614 shares during the quarter. Quantbot Technologies LP’s holdings in Golden Ocean Group were worth $1,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. New York State Common Retirement Fund increased its holdings in Golden Ocean Group by 16.5% during 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 purchasing an additional 31,500 shares during the period. Empowered Funds LLC raised its holdings in Golden Ocean Group by 3.6% in the fourth 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 in 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 last quarter. JPMorgan Chase & Co. increased its position in shares of Golden Ocean Group by 31.7% in 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 last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Golden Ocean Group in the 4th quarter valued at approximately $46,000. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Golden Ocean Group Price Performance

Shares of NASDAQ GOGL opened at $7.89 on Tuesday. The stock’s 50-day simple moving average is $8.94 and its 200-day simple moving average is $10.17. The firm has a market capitalization of $1.58 billion, a PE ratio of 6.52 and a beta of 1.14. Golden Ocean Group Limited has a fifty-two week low of $7.49 and a fifty-two 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.

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 issued 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 7.60%. Golden Ocean Group’s payout ratio is currently 53.57%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $10.00 price objective on shares of Golden Ocean Group in a research report on Wednesday, February 26th.

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.