Hosking Partners LLP Trims Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Hosking Partners LLP lowered its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,143,049 shares of the shipping company’s stock after selling 147,825 shares during the quarter. Hosking Partners LLP’s holdings in Golden Ocean Group were worth $10,242,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in GOGL. Empowered Funds LLC raised its holdings in shares of 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 purchasing an additional 33,241 shares during the last quarter. JPMorgan Chase & Co. grew its position in Golden Ocean Group by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company’s stock worth $5,947,000 after purchasing an additional 106,966 shares during the period. Kingsview Wealth Management LLC purchased a new position in shares of Golden Ocean Group during the 4th quarter valued at about $519,000. Dakota Wealth Management acquired a new position in shares of Golden Ocean Group in the 4th quarter valued at about $770,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of 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 worth $8,614,000 after buying an additional 637,103 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

NASDAQ:GOGL opened at $9.85 on Friday. 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 $8.52 and a 52 week high of $15.77. The stock’s 50-day moving average price is $9.16 and its 200-day moving average price is $10.64. The stock has a market capitalization of $1.97 billion, a PE ratio of 8.14 and a beta of 1.16.

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

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 11th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 6.09%. Golden Ocean Group’s dividend payout ratio is currently 99.17%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Pareto Securities reiterated a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $10.00 target price on shares of Golden Ocean Group in a report on Wednesday.

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.