JPMorgan Chase & Co. Has $29,000 Stock Holdings in Gulf Island Fabrication, Inc. (NASDAQ:GIFI)

JPMorgan Chase & Co. reduced its stake in shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) by 57.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,062 shares of the oil and gas company’s stock after selling 6,781 shares during the quarter. JPMorgan Chase & Co.’s holdings in Gulf Island Fabrication were worth $29,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in Gulf Island Fabrication during the second quarter worth about $73,000. Squarepoint Ops LLC acquired a new position in shares of Gulf Island Fabrication in the 2nd quarter valued at approximately $178,000. Marshall Wace LLP bought a new stake in shares of Gulf Island Fabrication during the 2nd quarter worth approximately $191,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Gulf Island Fabrication by 9.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock worth $234,000 after acquiring an additional 3,683 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Gulf Island Fabrication during the 3rd quarter worth approximately $260,000. Institutional investors own 46.40% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Gulf Island Fabrication from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Gulf Island Fabrication Price Performance

Shares of GIFI stock opened at $7.06 on Wednesday. The business has a fifty day simple moving average of $7.04 and a 200 day simple moving average of $6.28. The company has a market cap of $115.43 million, a P/E ratio of 6.72 and a beta of 0.55. The company has a quick ratio of 4.50, a current ratio of 4.61 and a debt-to-equity ratio of 0.21. Gulf Island Fabrication, Inc. has a twelve month low of $4.18 and a twelve month high of $7.93.

Gulf Island Fabrication (NASDAQ:GIFI) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Gulf Island Fabrication had a net margin of 10.54% and a return on equity of 20.64%. The firm had revenue of $37.64 million during the quarter.

Gulf Island Fabrication Company Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.