Numerai GP LLC Sells 141,902 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Numerai GP LLC cut its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 74.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,900 shares of the shipping company’s stock after selling 141,902 shares during the quarter. Numerai GP LLC’s holdings in Golden Ocean Group were worth $447,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its holdings in shares of Golden Ocean Group by 683.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock worth $25,000 after purchasing an additional 2,391 shares during the period. Sterling Capital Management LLC grew its position in Golden Ocean Group by 830.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock worth $35,000 after buying an additional 3,478 shares in the last quarter. Quarry LP increased its stake in Golden Ocean Group by 195.3% in the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock worth $45,000 after acquiring an additional 3,294 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Golden Ocean Group in the 4th quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Golden Ocean Group by 47.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company’s stock valued at $47,000 after acquiring an additional 1,694 shares in the last quarter. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Golden Ocean Group Price Performance

GOGL opened at $7.99 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.60 billion, a P/E ratio of 6.60 and a beta of 1.06. The stock has a 50-day moving average price of $7.61 and a 200-day moving average price of $8.99. Golden Ocean Group Limited has a 12-month low of $6.27 and a 12-month high of $15.77.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.51%. Golden Ocean Group’s payout ratio is 53.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group decreased their price objective 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 report on Wednesday. They issued a “hold” rating on the stock.

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.