Verition Fund Management LLC Acquires 41,645 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Verition Fund Management LLC increased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 225.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,127 shares of the construction company’s stock after buying an additional 41,645 shares during the quarter. Verition Fund Management LLC owned 0.09% of Great Lakes Dredge & Dock worth $633,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GLDD. Quarry LP lifted its holdings in shares of Great Lakes Dredge & Dock by 68.5% in the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock worth $27,000 after acquiring an additional 1,259 shares during the last quarter. Innealta Capital LLC bought a new position in Great Lakes Dredge & Dock in the 2nd quarter valued at approximately $30,000. nVerses Capital LLC boosted its position 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 buying an additional 2,800 shares in the last quarter. CWM LLC boosted its position in Great Lakes Dredge & Dock by 520.5% in the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after buying an additional 4,237 shares in the last quarter. Finally, ARS Investment Partners LLC grew its stake in shares of Great Lakes Dredge & Dock by 11.0% during the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock worth $107,000 after buying an additional 1,200 shares during the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GLDD has been the subject of a number of research reports. Noble Financial increased their price target 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. StockNews.com lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Price Performance

GLDD stock opened at $12.66 on Wednesday. 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 Co. has a 52-week low of $6.55 and a 52-week high of $12.89. The company has a market capitalization of $851.66 million, a P/E ratio of 14.55, a PEG ratio of 0.47 and a beta of 1.15. The company has a fifty day moving average price of $12.06 and a 200-day moving average price of $10.22.

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

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, Director Kathleen M. Shanahan sold 23,238 shares of the company’s stock in a transaction 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 sale, the director now owns 67,675 shares of the company’s stock, valued at approximately $854,735.25. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

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.