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

Verition Fund Management LLC grew its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 225.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 60,127 shares of the construction company's stock after buying an additional 41,645 shares during the period. Verition Fund Management LLC owned 0.09% of Great Lakes Dredge & Dock worth $633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLDD. Quarry LP increased its position in 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 purchasing an additional 1,259 shares during the period. Innealta Capital LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 2nd quarter worth approximately $30,000. nVerses Capital LLC raised its stake in shares of Great Lakes Dredge & Dock by 400.0% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company's stock worth $37,000 after buying an additional 2,800 shares during the last quarter. CWM LLC lifted its holdings 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 during the period. Finally, ARS Investment Partners LLC boosted its stake in Great Lakes Dredge & Dock by 11.0% in the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company's stock valued at $107,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors own 89.11% of the company's stock.

Analyst Ratings Changes

GLDD has been the topic of a number of analyst 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 cut Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a report on Thursday, August 15th.

Insider Activity at Great Lakes Dredge & Dock

In related 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 value of $293,495.94. Following the completion of the transaction, the director now directly owns 67,675 shares of the company's stock, valued at approximately $854,735.25. This represents a 25.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by insiders.

Great Lakes Dredge & Dock Trading Up 0.6 %

GLDD traded up $0.07 during mid-day trading on Wednesday, hitting $12.73. The stock had a trading volume of 471,043 shares, compared to its average volume of 428,079. The stock's fifty day simple moving average is $12.09 and its 200-day simple moving average is $10.24. The firm has a market capitalization of $856.37 million, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.47 and a beta of 1.15. Great Lakes Dredge & Dock Co. has a 1-year low of $6.55 and a 1-year high of $12.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share 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 business had revenue of $191.17 million for the quarter, compared to the consensus estimate of $180.80 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. As a group, research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.76 EPS for the current fiscal year.

Great Lakes Dredge & Dock Company Profile

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.