Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Short Interest Down 33.0% in December

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 577,100 shares, a decline of 33.0% from the December 15th total of 861,800 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 407,300 shares, the days-to-cover ratio is currently 1.4 days.

Great Lakes Dredge & Dock Trading Down 0.1 %

Great Lakes Dredge & Dock stock traded down $0.01 during midday trading on Wednesday, hitting $11.66. 78,395 shares of the stock were exchanged, compared to its average volume of 341,173. The company has a fifty day simple moving average of $12.02 and a two-hundred day simple moving average of $10.69. Great Lakes Dredge & Dock has a 52 week low of $6.55 and a 52 week high of $12.89. The stock has a market capitalization of $784.39 million, a PE ratio of 13.40, a P/E/G ratio of 0.48 and a beta of 1.17. 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 quarterly earnings results 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 during the quarter, compared to the consensus estimate of $180.80 million. During the same period in the previous year, the firm posted ($0.09) EPS. Equities research analysts anticipate that Great Lakes Dredge & Dock will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Noble Financial lifted their price target on shares of 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.

Insider Transactions at Great Lakes Dredge & Dock

In other news, Director Kathleen M. Shanahan sold 23,238 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $12.63, for a total transaction of $293,495.94. Following the completion of the sale, the director now owns 67,675 shares in the company, valued at $854,735.25. The trade was a 25.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quarry LP lifted its stake in Great Lakes Dredge & Dock by 68.5% in the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after buying an additional 1,259 shares in the last quarter. nVerses Capital LLC raised its holdings in shares of 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. Point72 Asset Management L.P. acquired a new stake in shares of Great Lakes Dredge & Dock in the third quarter valued at approximately $147,000. Intech Investment Management LLC acquired a new stake in shares of Great Lakes Dredge & Dock in the third quarter valued at approximately $157,000. Finally, Quantbot Technologies LP raised its holdings in shares of Great Lakes Dredge & Dock by 204.5% in the third quarter. Quantbot Technologies LP now owns 14,973 shares of the construction company’s stock valued at $158,000 after purchasing an additional 10,055 shares during the last quarter. Institutional investors own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

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.