Alliancebernstein L.P. Has $1.48 Million Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Alliancebernstein L.P. increased its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,927 shares of the shipping company’s stock after purchasing an additional 12,800 shares during the period. Alliancebernstein L.P. owned approximately 0.08% of Golden Ocean Group worth $1,478,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of Golden Ocean Group by 683.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 2,391 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Golden Ocean Group in the fourth quarter valued at $46,000. Cibc World Markets Corp acquired a new stake in Golden Ocean Group during the fourth quarter worth approximately $102,000. MQS Management LLC bought a new stake in Golden Ocean Group in the 4th quarter valued at $120,000. Finally, FMR LLC boosted its holdings in Golden Ocean Group by 146.8% in the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after purchasing an additional 7,263 shares during the period. Institutional investors own 22.00% of the company’s stock.

Analysts Set New Price Targets

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

Golden Ocean Group Stock Up 1.8 %

Shares of NASDAQ:GOGL opened at $7.16 on Friday. 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 Limited has a 52-week low of $6.27 and a 52-week high of $15.77. The company has a market capitalization of $1.43 billion, a PE ratio of 5.92 and a beta of 1.10. The company has a fifty day moving average of $8.27 and a 200-day moving average of $9.56.

Golden Ocean Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 8.38%. Golden Ocean Group’s dividend payout ratio is presently 53.57%.

Golden Ocean Group 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.