Hosking Partners LLP Sells 147,825 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Hosking Partners LLP reduced its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,143,049 shares of the shipping company’s stock after selling 147,825 shares during the period. Hosking Partners LLP owned 0.57% of Golden Ocean Group worth $10,242,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Golden Ocean Group in the third quarter valued at approximately $28,000. Onyx Bridge Wealth Group LLC lifted its holdings in shares of Golden Ocean Group by 10.4% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company’s stock worth $314,000 after buying an additional 3,315 shares during the period. Quadrature Capital Ltd grew its position in shares of Golden Ocean Group by 8.4% during the 3rd quarter. Quadrature Capital Ltd now owns 66,760 shares of the shipping company’s stock worth $894,000 after buying an additional 5,180 shares in the last quarter. FMR LLC increased its stake in shares of Golden Ocean Group by 146.8% during the third quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after buying an additional 7,263 shares during the period. Finally, PDT Partners LLC raised its holdings in shares of Golden Ocean Group by 2.7% in the third quarter. PDT Partners LLC now owns 305,470 shares of the shipping company’s stock valued at $4,084,000 after acquiring an additional 8,001 shares in the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Price Performance

GOGL opened at $9.85 on Friday. The firm has a market capitalization of $1.97 billion, a PE ratio of 8.14 and a beta of 1.16. 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 business’s 50-day moving average is $9.16 and its two-hundred day moving average is $10.64. Golden Ocean Group Limited has a 1 year low of $8.52 and a 1 year high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. Research analysts anticipate that Golden Ocean Group Limited will post 1.14 earnings per share for the current fiscal year.

Golden Ocean Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 6.09%. Golden Ocean Group’s dividend payout ratio is presently 99.17%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Pareto Securities reiterated a “hold” rating and set a $12.50 target price on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group reiterated a “hold” rating and set a $10.00 price objective on shares of Golden Ocean Group in a research note on Wednesday.

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.