Y Intercept Hong Kong Ltd Lowers Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Y Intercept Hong Kong Ltd cut its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 49.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP lifted its holdings in Golden Ocean Group by 96.9% during the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock worth $21,491,000 after buying an additional 766,436 shares during the period. Mirabella Financial Services LLP bought a new stake in Golden Ocean Group during the third quarter valued at about $9,360,000. Hsbc Holdings PLC grew its stake in Golden Ocean Group by 55.5% in the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company’s stock valued at $16,219,000 after purchasing an additional 417,539 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Golden Ocean Group by 42.7% in the second quarter. Acadian Asset Management LLC now owns 991,898 shares of the shipping company’s stock worth $13,683,000 after purchasing an additional 296,842 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Golden Ocean Group by 6.9% during the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock valued at $36,817,000 after buying an additional 177,100 shares during the last quarter. Institutional investors own 22.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOGL. Jefferies Financial Group cut their price objective on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Finally, Pareto Securities reissued a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st.

Golden Ocean Group Stock Down 1.4 %

GOGL stock opened at $8.85 on Wednesday. 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 Limited has a 52 week low of $8.73 and a 52 week high of $15.77. The stock has a market capitalization of $1.77 billion, a PE ratio of 7.31 and a beta of 1.16. The firm has a 50 day moving average of $10.84 and a 200 day moving average of $12.05.

Golden Ocean Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.56%. The ex-dividend date is Monday, December 9th. Golden Ocean Group’s dividend payout ratio (DPR) is presently 99.17%.

Golden Ocean Group 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.