Citadel Advisors LLC Decreases Holdings in Great Lakes Dredge & Dock Corporation (GLDD)

Citadel Advisors LLC reduced its holdings in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 34.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,301 shares of the construction company’s stock after selling 40,937 shares during the quarter. Citadel Advisors LLC owned 0.13% of Great Lakes Dredge & Dock Corporation worth $337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GLDD. Private Management Group Inc. purchased a new stake in Great Lakes Dredge & Dock Corporation during the second quarter worth approximately $4,139,000. Russell Investments Group Ltd. grew its stake in Great Lakes Dredge & Dock Corporation by 61.4% during the second quarter. Russell Investments Group Ltd. now owns 2,017,862 shares of the construction company’s stock worth $8,676,000 after buying an additional 767,586 shares during the period. Wellington Management Group LLP lifted its position in shares of Great Lakes Dredge & Dock Corporation by 16.3% during the first quarter. Wellington Management Group LLP now owns 4,376,735 shares of the construction company’s stock worth $17,506,000 after purchasing an additional 613,175 shares in the last quarter. Falcon Point Capital LLC acquired a new position in shares of Great Lakes Dredge & Dock Corporation during the second quarter worth $977,000. Finally, Vanguard Group Inc. lifted its position in shares of Great Lakes Dredge & Dock Corporation by 10.3% during the first quarter. Vanguard Group Inc. now owns 2,368,148 shares of the construction company’s stock worth $9,472,000 after purchasing an additional 220,755 shares in the last quarter. Institutional investors own 71.75% of the company’s stock.

Great Lakes Dredge & Dock Corporation (GLDD) opened at 5.30 on Thursday. Great Lakes Dredge & Dock Corporation has a 52-week low of $3.05 and a 52-week high of $5.45. The firm’s market capitalization is $325.45 million. The stock’s 50 day moving average is $4.56 and its 200-day moving average is $4.32.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) last announced its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Great Lakes Dredge & Dock Corporation had a negative net margin of 2.62% and a positive return on equity of 1.00%. The company had revenue of $176.90 million for the quarter, compared to analyst estimates of $201.70 million. During the same quarter last year, the business earned ($0.03) EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts expect that Great Lakes Dredge & Dock Corporation will post ($0.01) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Citadel Advisors LLC Decreases Holdings in Great Lakes Dredge & Dock Corporation (GLDD)” was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://www.com-unik.info/2017/10/12/citadel-advisors-llc-decreases-holdings-in-great-lakes-dredge-dock-corporation-gldd.html.

In related news, CEO Lasse Petterson purchased 155,897 shares of the stock in a transaction on Wednesday, August 9th. The shares were bought at an average price of $3.74 per share, for a total transaction of $583,054.78. Following the completion of the acquisition, the chief executive officer now directly owns 349,176 shares in the company, valued at approximately $1,305,918.24. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have acquired 291,904 shares of company stock worth $1,095,805. Corporate insiders own 8.24% of the company’s stock.

A number of research firms have recently commented on GLDD. ValuEngine cut shares of Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub cut shares of Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $6.50 target price on shares of Great Lakes Dredge & Dock Corporation in a research report on Tuesday, July 11th.

About Great Lakes Dredge & Dock Corporation

Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors.

Institutional Ownership by Quarter for Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

What are top analysts saying about Great Lakes Dredge & Dock Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Great Lakes Dredge & Dock Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit