TrueMark Investments LLC Sells 13,611 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

TrueMark Investments LLC reduced its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 39.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,601 shares of the shipping company’s stock after selling 13,611 shares during the quarter. TrueMark Investments LLC’s holdings in Golden Ocean Group were worth $185,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in shares of Golden Ocean Group during the third quarter worth approximately $477,000. Charles Schwab Investment Management Inc. grew its holdings in Golden Ocean Group by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 319,539 shares of the shipping company’s stock worth $4,275,000 after acquiring an additional 29,051 shares during the period. Quantbot Technologies LP raised its position in shares of 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 during the last quarter. FMR LLC raised its position in shares of Golden Ocean Group by 146.8% during the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after acquiring an additional 7,263 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Golden Ocean Group by 16.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 123,048 shares of the shipping company’s stock valued at $1,646,000 after purchasing an additional 17,553 shares during the period. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $10.00 price objective on shares of Golden Ocean Group in a report on Wednesday, February 26th.

Golden Ocean Group Stock Up 0.1 %

Golden Ocean Group stock opened at $8.00 on Thursday. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 6.61 and a beta of 1.14. The company’s 50 day simple moving average is $8.89 and its 200 day simple moving average is $10.13. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. Golden Ocean Group Limited has a fifty-two week low of $7.49 and a fifty-two week high of $15.77.

Golden Ocean Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.50%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group’s dividend payout ratio (DPR) is 53.57%.

Golden Ocean Group Company 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.