Quadrature Capital Ltd purchased a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL – Get Rating) during the third quarter, Holdings Channel reports. The firm purchased 30,200 shares of the shipping company’s stock, valued at approximately $226,000.
Other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in Golden Ocean Group during the second quarter worth approximately $27,000. Optiver Holding B.V. bought a new stake in Golden Ocean Group during the third quarter worth $60,000. Jump Financial LLC bought a new stake in Golden Ocean Group during the third quarter worth $80,000. Edmond DE Rothschild Holding S.A. lifted its stake in Golden Ocean Group by 252.8% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 7,363 shares of the shipping company’s stock worth $86,000 after purchasing an additional 5,276 shares during the last quarter. Finally, Keebeck Alpha LP bought a new stake in Golden Ocean Group during the third quarter worth $99,000. Institutional investors and hedge funds own 37.16% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on GOGL shares. Jefferies Financial Group restated a “hold” rating and set a $9.50 target price on shares of Golden Ocean Group in a research note on Thursday, February 16th. Pareto Securities cut Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Monday, February 13th.
Golden Ocean Group Stock Down 1.5 %
Golden Ocean Group Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Stockholders of record on Tuesday, February 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.43%. The ex-dividend date of this dividend was Monday, February 27th. Golden Ocean Group’s payout ratio is 34.93%.
About Golden Ocean Group
Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. It manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It is also involved in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.
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