Golden Ocean Group Limited (NASDAQ:GOGL) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 641,809 shares of the shipping company’s stock after selling 52,481 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Golden Ocean Group were worth $5,751,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its holdings in shares of Golden Ocean Group by 1.7% in the 4th quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company’s stock valued at $641,000 after buying an additional 1,201 shares during the period. Swiss National Bank lifted its holdings in shares of Golden Ocean Group by 0.6% in the 4th quarter. Swiss National Bank now owns 257,524 shares of the shipping company’s stock valued at $2,259,000 after buying an additional 1,658 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Golden Ocean Group by 47.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company’s stock valued at $47,000 after buying an additional 1,694 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock valued at $25,000 after buying an additional 2,391 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Golden Ocean Group by 9.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 36,786 shares of the shipping company’s stock valued at $330,000 after buying an additional 3,106 shares during the period. 22.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on GOGL. StockNews.com began coverage on Golden Ocean Group in a report on Wednesday. They issued a “hold” rating for the company. Jefferies Financial Group reduced their price objective on Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd.

Golden Ocean Group Stock Performance

Shares of GOGL stock opened at $7.95 on Wednesday. The stock has a fifty day moving average price of $7.62 and a 200 day moving average price of $9.01. The stock has a market cap of $1.59 billion, a PE ratio of 6.57 and a beta of 1.06. Golden Ocean Group Limited has a 1 year low of $6.27 and a 1 year 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors 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 annualized dividend and a yield of 7.55%. Golden Ocean Group’s dividend payout ratio is presently 53.57%.

About Golden Ocean Group

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.