Quantinno Capital Management LP Increases Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Quantinno Capital Management LP lifted its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 96.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,740 shares of the shipping company’s stock after buying an additional 9,684 shares during the period. Quantinno Capital Management LP’s holdings in Golden Ocean Group were worth $264,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Marshall Wace LLP grew its holdings in Golden Ocean Group by 96.9% during the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock worth $21,491,000 after acquiring an additional 766,436 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Golden Ocean Group during the 3rd quarter worth $9,360,000. Hsbc Holdings PLC increased its holdings in shares of Golden Ocean Group by 55.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company’s stock valued at $16,219,000 after purchasing an additional 417,539 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Golden Ocean Group by 42.7% in the second quarter. Acadian Asset Management LLC now owns 991,898 shares of the shipping company’s stock valued at $13,683,000 after purchasing an additional 296,842 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Golden Ocean Group by 32.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 694,290 shares of the shipping company’s stock worth $9,290,000 after buying an additional 168,898 shares in the last quarter. 22.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOGL has been the subject of a number of research reports. Jefferies Financial Group reduced their price target on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Pareto Securities reaffirmed a “hold” rating and set a $12.50 price objective on shares of Golden Ocean Group in a report on Thursday, November 21st. Finally, StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th.

Golden Ocean Group Stock Down 1.4 %

Shares of NASDAQ GOGL opened at $8.98 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s 50-day moving average is $10.92 and its two-hundred day moving average is $12.09. Golden Ocean Group Limited has a 12-month low of $8.92 and a 12-month high of $15.77. The company has a market capitalization of $1.80 billion, a PE ratio of 7.42 and a beta of 1.16.

Golden Ocean Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.36%. The ex-dividend date of this dividend is Monday, December 9th. Golden Ocean Group’s payout ratio is 99.17%.

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.