Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Short Interest Update

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Get Free Report) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 761,200 shares, a decrease of 10.1% from the November 15th total of 846,600 shares. Based on an average daily volume of 430,100 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.2% of the company's stock are short sold.

Analyst Ratings Changes

Separately, Noble Financial raised 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 report on Monday, September 23rd.

Great Lakes Dredge & Dock Stock Performance

Shares of NASDAQ GLDD traded down $0.21 during midday trading on Tuesday, hitting $11.88. 441,806 shares of the stock traded hands, compared to its average volume of 427,503. 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 has a one year low of $6.55 and a one year high of $12.89. The firm has a market capitalization of $799.19 million, a P/E ratio of 13.61, a PEG ratio of 0.48 and a beta of 1.15. The firm has a 50-day moving average of $12.12 and a two-hundred day moving average of $10.31.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) 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 firm had revenue of $191.17 million during the quarter, compared to analysts' expectations of $180.80 million. During the same period in the previous year, the business posted ($0.09) earnings per share. On average, equities analysts forecast that Great Lakes Dredge & Dock will post 0.76 EPS for the current fiscal year.

Insider Activity at Great Lakes Dredge & Dock

In other news, Director Kathleen M. Shanahan sold 23,238 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $12.63, for a total value of $293,495.94. Following the completion of the transaction, the director now owns 67,675 shares in the company, valued at $854,735.25. The trade was a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC increased its position in shares of Great Lakes Dredge & Dock by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company's stock valued at $45,631,000 after purchasing an additional 79,087 shares during the last quarter. Harvey Partners LLC boosted its stake in Great Lakes Dredge & Dock by 9.8% during the third quarter. Harvey Partners LLC now owns 3,647,500 shares of the construction company's stock worth $38,408,000 after buying an additional 325,500 shares during the period. TCW Group Inc. increased its position in Great Lakes Dredge & Dock by 5.0% during the third quarter. TCW Group Inc. now owns 2,095,834 shares of the construction company's stock valued at $22,069,000 after acquiring an additional 99,696 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Great Lakes Dredge & Dock by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,561,897 shares of the construction company's stock valued at $16,450,000 after acquiring an additional 22,166 shares during the period. Finally, State Street Corp lifted its holdings in shares of Great Lakes Dredge & Dock by 0.9% in the 3rd quarter. State Street Corp now owns 1,540,516 shares of the construction company's stock worth $16,222,000 after acquiring an additional 13,010 shares during the last quarter. Institutional investors own 89.11% of the company's stock.

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.