Golden Ocean Group Limited (NASDAQ:GOGL) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP increased its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 96.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its stake in Golden Ocean Group by 10,268.6% in the second quarter. Blue Trust Inc. now owns 19,493 shares of the shipping company’s stock valued at $253,000 after purchasing an additional 19,305 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings 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 worth $52,000 after acquiring an additional 3,595 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Golden Ocean Group by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 95,615 shares of the shipping company’s stock worth $1,319,000 after acquiring an additional 1,042 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Golden Ocean Group by 43.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 39,958 shares of the shipping company’s stock valued at $551,000 after purchasing an additional 12,141 shares during the period. Finally, TrueMark Investments LLC acquired a new position in Golden Ocean Group during the second quarter worth approximately $466,000. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

GOGL opened at $8.98 on Tuesday. Golden Ocean Group Limited has a 52-week low of $8.92 and a 52-week high of $15.77. The company has a 50 day moving average of $10.92 and a two-hundred day moving average of $12.09. The company has a market cap of $1.80 billion, a P/E ratio of 7.42 and a beta of 1.16. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65.

Golden Ocean Group Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Pareto Securities reiterated a “hold” rating and issued a $12.50 target price 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.

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.