Prevail Innovative Wealth Advisors LLC Invests $1.59 Million in Golden Ocean Group Limited (NASDAQ:GOGL)

Prevail Innovative Wealth Advisors LLC purchased a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) in the 4th quarter, HoldingsChannel reports. The fund purchased 177,523 shares of the shipping company’s stock, valued at approximately $1,591,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Golden Ocean Group by 229.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company’s stock worth $10,208,000 after buying an additional 793,470 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Golden Ocean Group by 196.5% during the 4th 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 in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Golden Ocean Group by 2,893.9% in the fourth quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company’s stock valued at $3,711,000 after acquiring an additional 400,289 shares in the last quarter. Two Sigma Advisers LP grew its stake in Golden Ocean Group by 6.9% in the 3rd quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock valued at $36,817,000 after purchasing an additional 177,100 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Golden Ocean Group by 32.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 694,290 shares of the shipping company’s stock valued at $9,290,000 after purchasing an additional 168,898 shares during the last quarter. Institutional investors own 22.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $10.00 price objective on shares of Golden Ocean Group in a research note on Wednesday, February 26th.

Golden Ocean Group Trading Up 2.7 %

Shares of GOGL opened at $8.36 on Friday. The business’s 50-day moving average price is $8.86 and its 200-day moving average price is $10.09. 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 twelve month low of $7.49 and a twelve month high of $15.77. The stock has a market cap of $1.67 billion, a PE ratio of 6.91 and a beta of 1.14.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.18%. Golden Ocean Group’s dividend payout ratio is presently 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.