Townsquare Capital LLC Makes New $99,000 Investment in Golden Ocean Group Limited (NASDAQ:GOGL)

Townsquare Capital LLC bought a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) during the 4th quarter, HoldingsChannel reports. The fund bought 11,093 shares of the shipping company’s stock, valued at approximately $99,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in Golden Ocean Group by 830.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock worth $35,000 after acquiring an additional 3,478 shares during the period. LSV Asset Management acquired a new position in shares of Golden Ocean Group during the 4th quarter worth $1,087,000. Renaissance Technologies LLC increased its holdings in shares of Golden Ocean Group by 119.6% in the 4th quarter. Renaissance Technologies LLC now owns 139,907 shares of the shipping company’s stock valued at $1,254,000 after purchasing an additional 76,207 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Golden Ocean Group by 8.2% in the fourth quarter. Legal & General Group Plc now owns 128,275 shares of the shipping company’s stock valued at $1,127,000 after purchasing an additional 9,746 shares during the period. Finally, Cerity Partners LLC purchased a new stake in Golden Ocean Group during the fourth quarter worth about $135,000. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Jefferies Financial Group dropped their target price on shares of Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday.

Golden Ocean Group Stock Up 8.6 %

Golden Ocean Group stock opened at $7.65 on Thursday. Golden Ocean Group Limited has a fifty-two week low of $6.27 and a fifty-two week high of $15.77. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 6.32 and a beta of 1.10. The stock’s fifty day moving average is $8.11 and its two-hundred day moving average is $9.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22.

Golden Ocean Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.85%. Golden Ocean Group’s dividend payout ratio (DPR) is currently 53.57%.

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.