Barclays PLC Sells 48,876 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Barclays PLC reduced its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 6.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 673,942 shares of the shipping company’s stock after selling 48,876 shares during the quarter. Barclays PLC’s holdings in Golden Ocean Group were worth $9,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new position in Golden Ocean Group during the third quarter valued at approximately $28,000. Nisa Investment Advisors LLC grew its position 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 purchasing an additional 3,595 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Golden Ocean Group by 2,319.5% in the second quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock worth $127,000 after purchasing an additional 8,791 shares during the period. FMR LLC raised its position in shares of Golden Ocean Group by 146.8% in the third quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock worth $163,000 after buying an additional 7,263 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Golden Ocean Group by 16.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock valued at $225,000 after buying an additional 2,267 shares during the period. 22.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOGL shares. Jefferies Financial Group decreased their target price on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Pareto Securities reaffirmed a “hold” rating and issued a $12.50 target price on shares of Golden Ocean Group in a research note on Thursday, November 21st. Finally, StockNews.com cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Golden Ocean Group Trading Down 1.4 %

Shares of GOGL stock opened at $8.85 on Wednesday. The business has a 50-day moving average price of $10.84 and a two-hundred day moving average price of $12.05. Golden Ocean Group Limited has a 12-month low of $8.73 and a 12-month high of $15.77. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.77 billion, a P/E ratio of 7.31 and a beta of 1.16.

Golden Ocean Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 13.56%. The ex-dividend date of this dividend is Monday, December 9th. Golden Ocean Group’s payout ratio is currently 99.17%.

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.