Balyasny Asset Management L.P. Has $1.07 Million Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Balyasny Asset Management L.P. lessened its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 22.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,404 shares of the shipping company’s stock after selling 33,819 shares during the period. Balyasny Asset Management L.P. owned about 0.06% of Golden Ocean Group worth $1,070,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOGL. JPMorgan Chase & Co. grew its position in shares of Golden Ocean Group by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company’s stock worth $5,947,000 after purchasing an additional 106,966 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in shares of Golden Ocean Group by 70.6% during the 4th quarter. Harbour Capital Advisors LLC now owns 41,515 shares of the shipping company’s stock worth $378,000 after acquiring an additional 17,185 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Golden Ocean Group by 196.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock worth $8,614,000 after acquiring an additional 637,103 shares in the last quarter. Dakota Wealth Management acquired a new stake in shares of Golden Ocean Group during the 4th quarter worth approximately $770,000. Finally, SG Americas Securities LLC boosted its position in shares of Golden Ocean Group by 26.7% during the 4th quarter. SG Americas Securities LLC now owns 59,951 shares of the shipping company’s stock worth $537,000 after acquiring an additional 12,647 shares in the last quarter. Institutional investors and hedge funds own 22.00% of the company’s stock.

Analyst Upgrades and Downgrades

GOGL has been the topic of several analyst reports. Jefferies Financial Group reduced their price target on shares of Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. StockNews.com initiated coverage on shares of Golden Ocean Group in a research report on Wednesday. They set a “hold” rating on the stock.

Golden Ocean Group Price Performance

Shares of NASDAQ:GOGL opened at $7.95 on Wednesday. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 6.57 and a beta of 1.06. 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 has a 50 day simple moving average of $7.62 and a 200 day simple moving average of $9.01. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $15.77.

Golden Ocean Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.55%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group’s payout ratio is 53.57%.

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.