Insider Selling: Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Director Sells $293,495.94 in Stock

by · The Cerbat Gem

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD – Get Free Report) Director Kathleen M. Shanahan sold 23,238 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $12.63, for a total transaction of $293,495.94. Following the completion of the sale, the director now directly owns 67,675 shares in the company, valued at approximately $854,735.25. The trade was a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Great Lakes Dredge & Dock Stock Up 0.7 %

Great Lakes Dredge & Dock stock opened at $12.13 on Friday. Great Lakes Dredge & Dock Co. has a one year low of $6.34 and a one year high of $12.83. The stock has a market cap of $815.99 million, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.47 and a beta of 1.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a fifty day moving average of $11.14 and a 200 day moving average of $9.70.

Great Lakes Dredge & Dock (NASDAQ:GLDD – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). The company had revenue of $191.17 million during the quarter, compared to analysts’ expectations of $180.80 million. Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. During the same quarter last year, the company earned ($0.09) earnings per share. As a group, sell-side analysts predict that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Noble Financial boosted their target price on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. StockNews.com cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

Read Our Latest Stock Analysis on Great Lakes Dredge & Dock

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Great Lakes Dredge & Dock by 96.1% in the 1st quarter. BNP Paribas Financial Markets now owns 106,558 shares of the construction company’s stock worth $932,000 after buying an additional 52,207 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Great Lakes Dredge & Dock by 1.4% during the first quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock worth $29,870,000 after acquiring an additional 48,760 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Great Lakes Dredge & Dock in the 1st quarter valued at $335,000. Quadrature Capital Ltd increased its holdings in shares of Great Lakes Dredge & Dock by 23.7% in the first quarter. Quadrature Capital Ltd now owns 18,278 shares of the construction company’s stock worth $160,000 after purchasing an additional 3,506 shares during the last quarter. Finally, PEAK6 Investments LLC increased its stake in Great Lakes Dredge & Dock by 20.8% in the 1st quarter. PEAK6 Investments LLC now owns 66,109 shares of the construction company’s stock worth $578,000 after acquiring an additional 11,365 shares during the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

About Great Lakes Dredge & Dock

(Get Free Report)

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.

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