Golden Ocean Group Limited (NASDAQ:GOGL) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 32.4% in the second quarter, HoldingsChannel reports. The firm owned 15,282 shares of the shipping company’s stock after selling 7,316 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Golden Ocean Group were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of Golden Ocean Group by 1,720.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after buying an additional 3,595 shares during the last quarter. Fifth Lane Capital LP acquired a new stake in Golden Ocean Group during the first quarter worth about $137,000. Lazard Asset Management LLC purchased a new position in Golden Ocean Group during the first quarter valued at approximately $149,000. Bayesian Capital Management LP acquired a new position in Golden Ocean Group in the first quarter valued at approximately $151,000. Finally, Quadrature Capital Ltd purchased a new stake in Golden Ocean Group in the 4th quarter worth approximately $171,000. 22.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOGL. Jefferies Financial Group cut their target price on shares of Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating for the company in a report on Wednesday, August 28th. StockNews.com raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Friday, August 30th.

Golden Ocean Group Stock Performance

NASDAQ GOGL opened at $12.98 on Thursday. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 13.96 and a beta of 1.16. The stock has a 50-day moving average of $12.13 and a 200 day moving average of $13.11. The company has a current ratio of 1.17, a quick ratio of 1.00 and a debt-to-equity ratio of 0.66. Golden Ocean Group Limited has a twelve month low of $7.09 and a twelve month high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. The business had revenue of $197.35 million during the quarter, compared to the consensus estimate of $187.74 million. Sell-side analysts anticipate that Golden Ocean Group Limited will post 1.35 EPS for the current fiscal year.

Golden Ocean Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 9.24%. The ex-dividend date was Wednesday, September 11th. Golden Ocean Group’s payout ratio is 129.03%.

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.