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

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 823,200 shares, a drop of 6.2% from the September 15th total of 878,000 shares. Based on an average daily volume of 509,600 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.3% of the company’s shares are short sold.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 53,771 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $9.06, for a total transaction of $487,165.26. Following the completion of the sale, the chief executive officer now directly owns 987,758 shares of the company’s stock, valued at approximately $8,949,087.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 128,990 shares of company stock valued at $1,174,747. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Great Lakes Dredge & Dock

Large investors have recently added to or reduced their stakes in the business. Algert Global LLC bought a new stake in shares of Great Lakes Dredge & Dock during the 2nd quarter worth about $2,192,000. Sanctuary Advisors LLC acquired a new position in Great Lakes Dredge & Dock during the second quarter valued at approximately $2,057,000. Marshall Wace LLP acquired a new stake in shares of Great Lakes Dredge & Dock in the second quarter worth $1,823,000. GSA Capital Partners LLP bought a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter worth $1,701,000. Finally, Bfsg LLC grew its stake in Great Lakes Dredge & Dock by 1,465.4% in the 3rd quarter. Bfsg LLC now owns 185,035 shares of the construction company’s stock valued at $1,948,000 after buying an additional 173,215 shares during the last quarter. 89.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Great Lakes Dredge & Dock Stock Up 3.8 %

GLDD stock traded up $0.44 during midday trading on Wednesday, reaching $11.97. The company had a trading volume of 339,218 shares, compared to its average volume of 428,001. Great Lakes Dredge & Dock has a 1 year low of $6.11 and a 1 year high of $11.98. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $802.10 million, a P/E ratio of 21.00, a PEG ratio of 0.41 and a beta of 1.15. The company has a 50 day moving average of $9.99 and a two-hundred day moving average of $9.11.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The firm had revenue of $170.09 million for the quarter, compared to the consensus estimate of $165.00 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, equities research analysts expect that Great Lakes Dredge & Dock will post 0.8 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.