Geode Capital Management LLC Sells 1,245 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Geode Capital Management LLC lowered its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 0.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,654,293 shares of the shipping company’s stock after selling 1,245 shares during the period. Geode Capital Management LLC’s holdings in Golden Ocean Group were worth $22,134,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GOGL. Point72 Hong Kong Ltd acquired a new position in Golden Ocean Group in the third quarter worth about $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Golden Ocean Group by 2,319.5% during the second quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 8,791 shares during the last quarter. FMR LLC boosted its stake in Golden Ocean Group by 146.8% in the third 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. Vanguard Personalized Indexing Management LLC boosted its stake in Golden Ocean Group by 16.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock valued at $225,000 after acquiring an additional 2,267 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Golden Ocean Group by 96.3% in the third quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock valued at $264,000 after acquiring an additional 9,684 shares during the last quarter. Institutional investors and hedge funds own 22.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GOGL. StockNews.com lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Pareto Securities reiterated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st. Finally, Jefferies Financial Group decreased their price objective 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.

Golden Ocean Group Price Performance

GOGL stock opened at $8.87 on Friday. The company has a 50 day simple moving average of $10.38 and a 200 day simple moving average of $11.80. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 7.33 and a beta of 1.16. Golden Ocean Group Limited has a 1 year low of $8.52 and a 1 year high of $15.77. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.53%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group’s dividend payout ratio is currently 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.