Posted on March 21, 2017
By Joanna Charbonneau, Chaffey Breeze
Director Peter Deutsch acquired 11,000 shares of Great Lakes Dredge & Dock Co. stock in a transaction that occurred on Tuesday, March 14th. The shares were purchased at an average price of $4.16 per share, with a total value of $45,760.00. Following the transaction, the director now owns 122,734 shares of the company’s stock, valued at approximately $510,573.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) traded down 3.30% during mid-day trading on Friday, reaching $4.40. The company had a trading volume of 357,117 shares. Great Lakes Dredge & Dock Co. has a 52 week low of $3.05 and a 52 week high of $5.45. The stock’s 50-day moving average price is $4.71 and its 200 day moving average price is $4.23. The firm’s market capitalization is $268.23 million.
Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) last released its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.06. The firm had revenue of $213.40 million for the quarter, compared to analysts’ expectations of $194.90 million. Great Lakes Dredge & Dock Co. had a negative return on equity of 0.81% and a negative net margin of 0.26%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.01) earnings per share. On average, equities research analysts predict that Great Lakes Dredge & Dock Co. will post $0.14 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of Great Lakes Dredge & Dock Co. during the fourth quarter valued at about $5,239,000. TCW Group Inc. bought a new stake in shares of Great Lakes Dredge & Dock Co. during the fourth quarter valued at about $2,100,000. Royce & Associates LP boosted its stake in shares of Great Lakes Dredge & Dock Co. by 59.7% in the fourth quarter. Royce & Associates LP now owns 901,574 shares of the company’s stock valued at $3,787,000 after buying an additional 336,874 shares during the period. Two Sigma Investments LP boosted its stake in shares of Great Lakes Dredge & Dock Co. by 222.2% in the fourth quarter. Two Sigma Investments LP now owns 231,892 shares of the company’s stock valued at $974,000 after buying an additional 159,921 shares during the period. Finally, Citadel Advisors LLC bought a new stake in shares of Great Lakes Dredge & Dock Co. during the third quarter valued at about $375,000. Institutional investors own 72.84% of the company’s stock.
Source: Chaffey Breeze
