Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Short Interest Update

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 861,800 shares, an increase of 13.2% from the November 30th total of 761,200 shares. Based on an average trading volume of 419,000 shares, the short-interest ratio is presently 2.1 days. Currently, 1.3% of the shares of the stock are sold short.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $12.63, for a total value of $293,495.94. Following the sale, the director now directly owns 67,675 shares in the company, valued at approximately $854,735.25. The trade was a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Great Lakes Dredge & Dock

A number of hedge funds have recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Great Lakes Dredge & Dock during the third quarter valued at approximately $6,744,000. Harvey Partners LLC boosted its stake in shares of Great Lakes Dredge & Dock by 9.8% during the 3rd quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company’s stock valued at $38,408,000 after buying an additional 325,500 shares during the period. Algert Global LLC purchased a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter valued at $2,192,000. Sanctuary Advisors LLC acquired a new position in shares of Great Lakes Dredge & Dock in the second quarter worth $2,057,000. Finally, Marshall Wace LLP purchased a new stake in shares of Great Lakes Dredge & Dock during the second quarter worth $1,823,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Analysts Set New Price Targets

Separately, Noble Financial raised their target price on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd.

Great Lakes Dredge & Dock Trading Down 0.3 %

Shares of NASDAQ GLDD traded down $0.03 during mid-day trading on Wednesday, hitting $11.29. 321,315 shares of the company traded hands, compared to its average volume of 427,994. The business has a 50 day moving average of $12.06 and a two-hundred day moving average of $10.50. The stock has a market capitalization of $759.50 million, a price-to-earnings ratio of 12.98, a PEG ratio of 0.48 and a beta of 1.15. Great Lakes Dredge & Dock has a 1 year low of $6.55 and a 1 year high of $12.89. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). Great Lakes Dredge & Dock had a return on equity of 13.35% and a net margin of 7.97%. The firm had revenue of $191.17 million during the quarter, compared to analyst estimates of $180.80 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. On average, sell-side analysts anticipate that Great Lakes Dredge & Dock will post 0.76 earnings per share for the current fiscal year.

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.