Golden Ocean Group Limited (NASDAQ:GOGL) Shares Sold by Jump Financial LLC

Jump Financial LLC trimmed its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 49.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,999 shares of the shipping company’s stock after selling 95,392 shares during the quarter. Jump Financial LLC’s holdings in Golden Ocean Group were worth $860,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Golden Ocean Group by 229.5% during the fourth 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. Assenagon Asset Management S.A. increased its stake in shares of 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 worth $8,614,000 after acquiring an additional 637,103 shares during the period. Victory Capital Management Inc. raised its holdings in Golden Ocean Group by 2,893.9% during the fourth quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company’s stock worth $3,711,000 after purchasing an additional 400,289 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new position in Golden Ocean Group during the fourth quarter worth about $1,591,000. Finally, Denali Advisors LLC lifted its position in Golden Ocean Group by 27.3% in the fourth quarter. Denali Advisors LLC now owns 620,490 shares of the shipping company’s stock valued at $5,560,000 after purchasing an additional 133,200 shares during the period. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Golden Ocean Group Stock Down 0.6 %

GOGL stock opened at $7.12 on Tuesday. 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 company’s 50-day moving average price is $8.19 and its 200 day moving average price is $9.43. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $15.77. The company has a market cap of $1.42 billion, a P/E ratio of 5.88 and a beta of 1.10.

Golden Ocean Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.43%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group’s dividend payout ratio is currently 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.