Barclays PLC Sells 48,876 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Barclays PLC lowered its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 673,942 shares of the shipping company’s stock after selling 48,876 shares during the quarter. Barclays PLC owned about 0.34% of Golden Ocean Group worth $9,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC lifted its holdings in shares of Golden Ocean Group by 5.4% in the third quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company’s stock valued at $12,440,000 after purchasing an additional 47,302 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in Golden Ocean Group in the 3rd quarter valued at $9,360,000. Quantbot Technologies LP lifted its stake in Golden Ocean Group by 93.7% during the 3rd quarter. Quantbot Technologies LP now owns 228,972 shares of the shipping company’s stock valued at $3,064,000 after acquiring an additional 110,745 shares in the last quarter. Jennison Associates LLC purchased a new position in Golden Ocean Group during the 3rd quarter worth $744,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Golden Ocean Group by 32.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 694,290 shares of the shipping company’s stock worth $9,290,000 after acquiring an additional 168,898 shares in the last quarter. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Stock Performance

Shares of GOGL stock opened at $8.85 on Wednesday. Golden Ocean Group Limited has a 52 week low of $8.73 and a 52 week high of $15.77. The firm’s 50-day simple moving average is $10.84 and its two-hundred day simple moving average is $12.05. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 7.31 and a beta of 1.16. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.56%. The ex-dividend date is Monday, December 9th. Golden Ocean Group’s dividend payout ratio (DPR) is 99.17%.

Analyst Ratings Changes

GOGL has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Jefferies Financial Group cut their target price on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Finally, Pareto Securities reaffirmed a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st.

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.