Great Lakes Dredge & Dock (GLDD) Downgraded by BidaskClub to “Strong Sell”

BidaskClub cut shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a sell rating to a strong sell rating in a research note published on Monday.

Several other brokerages have also issued reports on GLDD. Cantor Fitzgerald reiterated a hold rating on shares of Great Lakes Dredge & Dock in a report on Sunday, December 31st. Noble Financial assumed coverage on Great Lakes Dredge & Dock in a report on Thursday, January 25th. They set a buy rating and a $7.50 price objective for the company.

Shares of Great Lakes Dredge & Dock (GLDD) opened at $4.30 on Monday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.74 and a current ratio of 2.02. Great Lakes Dredge & Dock has a 1-year low of $3.60 and a 1-year high of $5.70.

Large investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth $103,000. SG Americas Securities LLC acquired a new position in Great Lakes Dredge & Dock during the fourth quarter worth $136,000. Brandywine Global Investment Management LLC increased its position in Great Lakes Dredge & Dock by 2.3% during the second quarter. Brandywine Global Investment Management LLC now owns 33,195 shares of the construction company’s stock worth $143,000 after buying an additional 755 shares during the last quarter. OxFORD Asset Management LLP increased its position in Great Lakes Dredge & Dock by 4.1% during the second quarter. OxFORD Asset Management LLP now owns 37,865 shares of the construction company’s stock worth $163,000 after buying an additional 1,480 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Great Lakes Dredge & Dock by 194.3% during the second quarter. Alliancebernstein L.P. now owns 41,500 shares of the construction company’s stock worth $178,000 after buying an additional 27,400 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

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Great Lakes Dredge & Dock Company Profile

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.

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