Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Director Acquires $345,172.50 in Stock

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Director Ryan Levenson acquired 32,625 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average price of $10.58 per share, with a total value of $345,172.50. Following the completion of the transaction, the director now owns 35,816 shares in the company, valued at $378,933.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ GLDD traded down $0.11 during mid-day trading on Wednesday, hitting $10.58. The company had a trading volume of 335,560 shares, compared to its average volume of 510,743. The company has a market capitalization of $676.27 million, a price-to-earnings ratio of 29.39 and a beta of 0.48. Great Lakes Dredge & Dock Co. has a 1 year low of $6.09 and a 1 year high of $11.81. The stock’s 50-day moving average price is $10.42 and its 200-day moving average price is $10.57. The company has a current ratio of 1.36, a quick ratio of 1.24 and a debt-to-equity ratio of 1.43.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Great Lakes Dredge & Dock had a return on equity of 20.57% and a net margin of 3.56%. The firm had revenue of $169.80 million during the quarter, compared to analyst estimates of $178.50 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year. As a group, equities research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.74 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. increased its stake in Great Lakes Dredge & Dock by 23.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,489,049 shares of the construction company’s stock worth $16,439,000 after buying an additional 279,745 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 13.0% during the second quarter. UBS Asset Management Americas Inc. now owns 49,924 shares of the construction company’s stock worth $551,000 after buying an additional 5,759 shares during the period. Chicago Equity Partners LLC lifted its stake in shares of Great Lakes Dredge & Dock by 54.9% during the third quarter. Chicago Equity Partners LLC now owns 252,645 shares of the construction company’s stock worth $2,640,000 after buying an additional 89,585 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Great Lakes Dredge & Dock during the third quarter worth $2,063,000. Finally, Alambic Investment Management L.P. lifted its stake in shares of Great Lakes Dredge & Dock by 306.0% during the second quarter. Alambic Investment Management L.P. now owns 171,647 shares of the construction company’s stock worth $1,895,000 after buying an additional 129,371 shares during the period. 88.25% of the stock is owned by institutional investors.

A number of equities analysts have issued reports on the company. BidaskClub raised Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Noble Financial restated a “buy” rating and issued a $13.80 target price on shares of Great Lakes Dredge & Dock in a report on Sunday, October 6th. ValuEngine upgraded Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Zacks Investment Research lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a report on Thursday, October 31st.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company is involved 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.

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