Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its holdings in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 36.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,215 shares of the construction company’s stock after selling 27,316 shares during the quarter. Cubist Systematic Strategies LLC owned 0.07% of Great Lakes Dredge & Dock worth $415,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in Great Lakes Dredge & Dock during the second quarter valued at $2,057,000. Quarry LP raised its stake in shares of Great Lakes Dredge & Dock by 68.5% in the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after acquiring an additional 1,259 shares in the last quarter. Creative Planning lifted its stake in shares of Great Lakes Dredge & Dock by 8.2% in the second quarter. Creative Planning now owns 38,688 shares of the construction company’s stock worth $340,000 after buying an additional 2,919 shares during the last quarter. Algert Global LLC bought a new stake in Great Lakes Dredge & Dock during the second quarter valued at about $2,192,000. Finally, AQR Capital Management LLC grew its stake in shares of Great Lakes Dredge & Dock by 379.3% in the second quarter. AQR Capital Management LLC now owns 208,218 shares of the construction company’s stock worth $1,828,000 after acquiring an additional 164,780 shares during the last quarter. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Stock Performance

GLDD stock opened at $11.75 on Monday. Great Lakes Dredge & Dock Co. has a 1-year low of $6.11 and a 1-year high of $11.98. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. The firm has a market cap of $787.36 million, a PE ratio of 20.61, a P/E/G ratio of 0.41 and a beta of 1.15. The business’s 50-day moving average price is $9.86 and its two-hundred day moving average price is $9.07.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The business had revenue of $170.09 million during the quarter, compared to the consensus estimate of $165.00 million. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. During the same period last year, the company earned $0.03 earnings per share. As a group, research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 28,709 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $9.24, for a total value of $265,271.16. Following the transaction, the chief executive officer now directly owns 902,392 shares in the company, valued at $8,338,102.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 128,990 shares of company stock worth $1,174,747. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on GLDD shares. StockNews.com lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Noble Financial increased their price objective on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, September 23rd.

About Great Lakes Dredge & Dock

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.