Posted on May 16, 2017
By Oliver Carreras, Chaffey Breeze
Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) announced its quarterly earnings results on May 10, 2017. The construction company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.02. The firm had revenue of $170.59 million during the quarter, compared to the consensus estimate of $170.10 million. Great Lakes Dredge & Dock Co. had a negative return on equity of 0.81% and a negative net margin of 0.26%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) EPS.
Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) traded up 2.11% on Friday, reaching $4.85. The company’s stock had a trading volume of 159,876 shares. Great Lakes Dredge & Dock Co. has a 12-month low of $3.05 and a 12-month high of $5.45. The company’s market cap is $297.17 million. The company’s 50 day moving average price is $4.46 and its 200 day moving average price is $4.44.
In other news, Director Carl A. Albert bought 8,000 shares of the stock in a transaction on Tuesday, February 28th. The stock was bought at an average cost of $4.45 per share, for a total transaction of $35,600.00. Following the completion of the purchase, the director now directly owns 77,863 shares in the company, valued at $346,490.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Deutsch acquired 11,000 shares of the stock in a transaction dated Tuesday, March 14th. The shares were bought at an average price of $4.16 per share, with a total value of $45,760.00. Following the completion of the purchase, the director now directly owns 122,734 shares of the company’s stock, valued at approximately $510,573.44. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 84,600 shares of company stock valued at $367,396. 3.75% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Great Lakes Dredge & Dock Co. during the first quarter valued at approximately $101,000. KBC Group NV bought a new stake in Great Lakes Dredge & Dock Co. during the first quarter valued at approximately $122,000. Menta Capital LLC bought a new stake in Great Lakes Dredge & Dock Co. during the fourth quarter valued at approximately $125,000. Oxford Asset Management bought a new stake in Great Lakes Dredge & Dock Co. during the first quarter valued at approximately $146,000. Finally, American International Group Inc. increased its stake in Great Lakes Dredge & Dock Co. by 7.1% in the first quarter. American International Group Inc. now owns 36,391 shares of the construction company’s stock valued at $146,000 after buying an additional 2,414 shares during the last quarter. Institutional investors and hedge funds own 72.84% of the company’s stock.
Source: Chaffey Breeze
