Y Intercept Hong Kong Ltd Sells 25,770 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Y Intercept Hong Kong Ltd decreased its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 49.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,440 shares of the shipping company’s stock after selling 25,770 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Golden Ocean Group were worth $354,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in Golden Ocean Group by 1,720.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock worth $52,000 after purchasing an additional 3,595 shares during the period. SummerHaven Investment Management LLC grew its stake in Golden Ocean Group by 1.1% during the second quarter. SummerHaven Investment Management LLC now owns 95,615 shares of the shipping company’s stock valued at $1,319,000 after acquiring an additional 1,042 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Golden Ocean Group by 43.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 39,958 shares of the shipping company’s stock valued at $551,000 after acquiring an additional 12,141 shares during the last quarter. TrueMark Investments LLC purchased a new stake in Golden Ocean Group in the 2nd quarter worth $466,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Golden Ocean Group by 55.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 38,712 shares of the shipping company’s stock valued at $534,000 after purchasing an additional 13,830 shares during the last quarter. Institutional investors own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Golden Ocean Group stock opened at $8.85 on Wednesday. Golden Ocean Group Limited has a 12-month low of $8.73 and a 12-month high of $15.77. 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 firm has a 50-day moving average price of $10.84 and a 200-day moving average price of $12.05. The firm has a market capitalization of $1.77 billion, a PE ratio of 7.31 and a beta of 1.16.

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 paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.56%. The ex-dividend date of this dividend is 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.