Jacobs Levy Equity Management Inc. Grows Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 32.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 694,290 shares of the shipping company’s stock after purchasing an additional 168,898 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.35% of Golden Ocean Group worth $9,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOGL. Price T Rowe Associates Inc. MD increased its position in shares of Golden Ocean Group by 16.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,144 shares of the shipping company’s stock valued at $456,000 after purchasing an additional 4,858 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Golden Ocean Group by 1,372.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company’s stock valued at $17,392,000 after acquiring an additional 1,174,716 shares during the period. Blue Trust Inc. grew its stake in shares of Golden Ocean Group by 10,268.6% during the 2nd quarter. Blue Trust Inc. now owns 19,493 shares of the shipping company’s stock valued at $253,000 after acquiring an additional 19,305 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Golden Ocean Group by 1,720.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after acquiring an additional 3,595 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in shares of Golden Ocean Group by 1.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 95,615 shares of the shipping company’s stock valued at $1,319,000 after acquiring an additional 1,042 shares during the period. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Trading Up 1.0 %

GOGL stock opened at $9.91 on Friday. Golden Ocean Group Limited has a 1-year low of $8.42 and a 1-year high of $15.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.00. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 8.19 and a beta of 1.16. The business has a 50 day simple moving average of $11.45 and a two-hundred day simple moving average of $12.38.

Golden Ocean Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.20 annualized dividend and a yield of 12.11%. Golden Ocean Group’s payout ratio is 99.17%.

Analysts Set New Price Targets

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

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.