Trexquant Investment LP Increases Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Trexquant Investment LP grew its stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 150.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,993 shares of the shipping company's stock after buying an additional 116,548 shares during the period. Trexquant Investment LP owned 0.10% of Golden Ocean Group worth $1,738,000 at the end of the most recent reporting period.

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A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Golden Ocean Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,798,672 shares of the shipping company's stock valued at $50,978,000 after acquiring an additional 71,918 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Golden Ocean Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,663,334 shares of the shipping company's stock valued at $14,903,000 after purchasing an additional 9,041 shares during the period. Bank of New York Mellon Corp grew its stake in Golden Ocean Group by 229.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock worth $10,208,000 after buying an additional 793,470 shares during the last quarter. Empowered Funds LLC increased its position in Golden Ocean Group by 3.6% during the fourth quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company's stock worth $8,629,000 after buying an additional 33,241 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Golden Ocean Group by 196.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock valued at $8,614,000 after buying an additional 637,103 shares during the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Stock Performance

NASDAQ GOGL opened at $6.51 on Wednesday. The firm has a market cap of $1.30 billion, a P/E ratio of 5.38 and a beta of 1.10. Golden Ocean Group Limited has a 52-week low of $6.37 and a 52-week high of $15.77. The business's 50-day moving average price is $8.62 and its 200 day moving average price is $9.84. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.22%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group's payout ratio is currently 53.57%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reaffirmed a "hold" rating and issued a $10.00 target price on shares of Golden Ocean Group in a report on Wednesday, February 26th.

Check Out Our Latest Research Report on GOGL

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.

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