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

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 823,200 shares, a decline 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 presently 1.6 days. Currently, 1.3% of the shares of the company are sold short.

Insider Transactions at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 46,510 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $9.08, for a total value of $422,310.80. Following the completion of the sale, the chief executive officer now owns 931,101 shares in the company, valued at approximately $8,454,397.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 128,990 shares of company stock worth $1,174,747. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GLDD. nVerses Capital LLC increased its holdings in Great Lakes Dredge & Dock by 400.0% in the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock valued at $37,000 after purchasing an additional 2,800 shares during the last quarter. Bfsg LLC raised its position in shares of 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 acquiring an additional 173,215 shares during the period. Essex Investment Management Co. LLC boosted its stake in Great Lakes Dredge & Dock by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 347,517 shares of the construction company’s stock worth $3,659,000 after acquiring an additional 915 shares during the last quarter. SG Americas Securities LLC acquired a new position in Great Lakes Dredge & Dock during the third quarter valued at approximately $1,157,000. Finally, Sanctuary Advisors LLC acquired a new stake in Great Lakes Dredge & Dock in the second quarter worth $2,057,000. Institutional investors and hedge funds own 89.11% of the company’s stock.

Analyst Upgrades and Downgrades

GLDD has been the subject of several recent analyst reports. StockNews.com lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Noble Financial raised their target price on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd.

Great Lakes Dredge & Dock Trading Up 3.8 %

NASDAQ:GLDD traded up $0.44 during trading hours on Wednesday, hitting $11.97. 339,218 shares of the stock were exchanged, compared to its average volume of 428,001. The company’s 50 day moving average is $9.99 and its two-hundred day moving average is $9.11. The company has a market capitalization of $802.10 million, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 0.41 and a beta of 1.15. Great Lakes Dredge & Dock has a twelve month low of $6.11 and a twelve month high of $11.98. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. The company had revenue of $170.09 million for the quarter, compared to analyst estimates of $165.00 million. During the same quarter last year, the firm earned $0.03 EPS. On average, sell-side analysts anticipate 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.