JPMorgan Chase & Co. Sells 6,781 Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI)

JPMorgan Chase & Co. lowered its holdings in shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) by 57.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,062 shares of the oil and gas company’s stock after selling 6,781 shares during the period. JPMorgan Chase & Co.’s holdings in Gulf Island Fabrication were worth $29,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new stake in Gulf Island Fabrication in the 2nd quarter valued at $73,000. Squarepoint Ops LLC acquired a new stake in shares of Gulf Island Fabrication during the 2nd quarter worth about $178,000. Marshall Wace LLP bought a new stake in shares of Gulf Island Fabrication during the 2nd quarter worth about $191,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Gulf Island Fabrication by 9.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock valued at $234,000 after buying an additional 3,683 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Gulf Island Fabrication in the 3rd quarter valued at about $260,000. Institutional investors own 46.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Gulf Island Fabrication from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Gulf Island Fabrication Stock Up 0.9 %

GIFI stock opened at $7.06 on Wednesday. Gulf Island Fabrication, Inc. has a fifty-two week low of $4.18 and a fifty-two week high of $7.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.61 and a quick ratio of 4.50. The stock has a market capitalization of $115.43 million, a price-to-earnings ratio of 6.72 and a beta of 0.55. The business’s fifty day moving average price is $7.04 and its two-hundred day moving average price is $6.28.

Gulf Island Fabrication (NASDAQ:GIFI) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $37.64 million during the quarter. Gulf Island Fabrication had a net margin of 10.54% and a return on equity of 20.64%.

About Gulf Island Fabrication

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.