Private Management Group Inc. Sells 19,097 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Private Management Group Inc. lessened its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,218,857 shares of the construction company’s stock after selling 19,097 shares during the quarter. Private Management Group Inc. owned approximately 1.81% of Great Lakes Dredge & Dock worth $13,761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Essex Investment Management Co. LLC lifted its position in Great Lakes Dredge & Dock by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 347,517 shares of the construction company’s stock valued at $3,659,000 after buying an additional 915 shares during the period. Victory Capital Management Inc. increased its stake in shares of Great Lakes Dredge & Dock by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 123,228 shares of the construction company’s stock worth $1,298,000 after acquiring an additional 1,228 shares in the last quarter. nVerses Capital LLC lifted its position in Great Lakes Dredge & Dock by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock valued at $37,000 after acquiring an additional 2,800 shares during the period. Creative Planning lifted its position in Great Lakes Dredge & Dock by 8.2% during the 2nd quarter. Creative Planning now owns 38,688 shares of the construction company’s stock valued at $340,000 after acquiring an additional 2,919 shares during the period. Finally, Canton Hathaway LLC boosted its stake in Great Lakes Dredge & Dock by 10.7% during the third quarter. Canton Hathaway LLC now owns 41,300 shares of the construction company’s stock worth $435,000 after acquiring an additional 4,000 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.

Insider Transactions at Great Lakes Dredge & Dock

In other news, Director Kathleen M. Shanahan sold 23,238 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $12.63, for a total value of $293,495.94. Following the transaction, the director now owns 67,675 shares in the company, valued at approximately $854,735.25. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ GLDD opened at $11.27 on Thursday. The company has a 50 day simple moving average of $11.76 and a two-hundred day simple moving average of $10.99. Great Lakes Dredge & Dock Co. has a fifty-two week low of $6.55 and a fifty-two week high of $12.89. The company has a market capitalization of $758.16 million, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Great Lakes Dredge & Dock had a net margin of 7.97% and a return on equity of 13.35%. The company had revenue of $191.17 million for the quarter, compared to the consensus estimate of $180.80 million. During the same period last year, the business earned ($0.09) EPS. Analysts expect that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current fiscal year.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.