Quadrature Capital Ltd Takes $226,000 Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Posted by Defense World Staff on Mar 14th, 2023

Quadrature Capital Ltd bought a new stake in Golden Ocean Group Limited (NASDAQ:GOGL – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,200 shares of the shipping company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LP acquired a new stake in shares of Golden Ocean Group in the 3rd quarter valued at $600,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Golden Ocean Group during the third quarter worth $982,000. Optiver Holding B.V. acquired a new stake in shares of Golden Ocean Group during the third quarter worth $60,000. Redhawk Wealth Advisors Inc. grew its stake in shares of Golden Ocean Group by 48.7% during the second quarter. Redhawk Wealth Advisors Inc. now owns 73,307 shares of the shipping company’s stock worth $853,000 after purchasing an additional 23,995 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in shares of Golden Ocean Group during the third quarter worth $319,000. 37.16% of the stock is owned by institutional investors and hedge funds.

Golden Ocean Group Stock Performance

Shares of NASDAQ GOGL opened at $9.49 on Tuesday. The business’s 50 day moving average price is $9.45 and its two-hundred day moving average price is $9.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.41 and a quick ratio of 1.41. Golden Ocean Group Limited has a twelve month low of $7.24 and a twelve month high of $16.46.

Golden Ocean Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Tuesday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 8.43%. The ex-dividend date of this dividend was Monday, February 27th. Golden Ocean Group’s dividend payout ratio (DPR) is presently 34.93%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOGL. Jefferies Financial Group reaffirmed a “hold” rating and set a $9.50 price objective on shares of Golden Ocean Group in a research note on Thursday, February 16th. Pareto Securities cut Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Monday, February 13th.

About Golden Ocean Group

(Get Rating)

Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. It manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It is also involved in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.