Squarepoint Ops LLC Purchases 19,767 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Squarepoint Ops LLC boosted its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 15.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,510 shares of the construction company’s stock after purchasing an additional 19,767 shares during the quarter. Squarepoint Ops LLC owned approximately 0.22% of Great Lakes Dredge & Dock worth $1,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the 2nd quarter worth about $30,000. CWM LLC boosted its stake in Great Lakes Dredge & Dock by 520.5% during the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after acquiring an additional 4,237 shares in the last quarter. ARS Investment Partners LLC grew its holdings in Great Lakes Dredge & Dock by 11.0% in the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock worth $107,000 after purchasing an additional 1,200 shares during the period. Quadrature Capital Ltd bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter valued at approximately $113,000. Finally, Bayesian Capital Management LP bought a new position in shares of Great Lakes Dredge & Dock during the first quarter valued at approximately $137,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Wall Street Analyst Weigh In

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

Great Lakes Dredge & Dock Stock Up 3.8 %

Shares of Great Lakes Dredge & Dock stock opened at $11.70 on Friday. The company has a 50-day simple moving average of $9.61 and a two-hundred day simple moving average of $8.96. The stock has a market capitalization of $784.01 million, a PE ratio of 20.53, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15. Great Lakes Dredge & Dock Co. has a 52-week low of $6.11 and a 52-week high of $11.78. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32.

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

Insider Activity

In related news, CEO Lasse Petterson sold 53,771 shares of Great Lakes Dredge & Dock stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.06, for a total value of $487,165.26. Following the completion of the sale, the chief executive officer now directly owns 987,758 shares in the company, valued at approximately $8,949,087.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 128,990 shares of company stock valued at $1,174,747 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Great Lakes Dredge & Dock Company Profile

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.