Algert Global LLC Purchases Shares of 249,653 Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Algert Global LLC acquired a new position in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) during the 2nd quarter, Holdings Channel reports. The firm acquired 249,653 shares of the construction company’s stock, valued at approximately $2,192,000.

Several other institutional investors also recently modified their holdings of GLDD. Innealta Capital LLC acquired a new position in shares of Great Lakes Dredge & Dock during the 2nd quarter worth about $30,000. CWM LLC increased its stake in shares of Great Lakes Dredge & Dock by 520.5% during the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after purchasing an additional 4,237 shares during the last quarter. ARS Investment Partners LLC increased its stake in shares of Great Lakes Dredge & Dock by 11.0% during the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock worth $107,000 after purchasing an additional 1,200 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Great Lakes Dredge & Dock in the 4th quarter valued at about $113,000. Finally, Bayesian Capital Management LP acquired a new position in Great Lakes Dredge & Dock in the 1st quarter valued at about $137,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 53,771 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $9.06, for a total value of $487,165.26. Following the completion of the sale, the chief executive officer now owns 987,758 shares of the company’s stock, valued at approximately $8,949,087.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 128,990 shares of company stock valued at $1,174,747 in the last quarter. Company insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Stock Performance

NASDAQ GLDD opened at $11.34 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $759.88 million, a P/E ratio of 19.89, a P/E/G ratio of 0.38 and a beta of 1.15. Great Lakes Dredge & Dock Co. has a 12-month low of $6.11 and a 12-month high of $11.78. The firm has a 50-day moving average price of $9.52 and a two-hundred day moving average price of $8.92.

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

Analysts Set New Price Targets

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

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.