590,467 Orion Group Holdings, Inc. $ORN Shares Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Orion Group stake by 357.2% in the third quarter, adding 590,467 shares to hold 755,765 shares, valued at about $6.46 million. Institutional investors collectively own 70.25% of the company.
• Analysts have a Moderate Buy consensus and an average price target of $14.75. Recent target cuts included JPMorgan lowering its target to $14 and Oppenheimer to $15.
• Orion reported quarterly EPS of $0.12, above the $0.09 consensus, and revenue of $256.15 million, also exceeding estimates. Shares traded at $7.21, near their 52-week low of $6.75.

CenterBook Partners LP boosted its position in Orion Group Holdings, Inc. (NYSE:ORN - Free Report) by 357.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 755,765 shares of the company's stock after acquiring an additional 590,467 shares during the quarter. CenterBook Partners LP owned 1.87% of Orion Group worth $6,462,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ORN. BlackRock Inc. increased its holdings in Orion Group by 9.9% in the second quarter. BlackRock Inc. now owns 3,008,011 shares of the company's stock valued at $50,595,000 after buying an additional 270,967 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Orion Group by 21.6% during the 2nd quarter. Wasatch Advisors LP now owns 2,014,110 shares of the company's stock worth $33,877,000 after buying an additional 357,276 shares during the last quarter. Grace & White Inc. NY boosted its position in shares of Orion Group by 2.5% during the 3rd quarter. Grace & White Inc. NY now owns 832,902 shares of the company's stock worth $7,121,000 after acquiring an additional 20,180 shares in the last quarter. De Lisle Partners LLP acquired a new position in shares of Orion Group during the 2nd quarter worth about $7,067,000. Finally, Algert Global LLC increased its holdings in shares of Orion Group by 28.1% in the 2nd quarter. Algert Global LLC now owns 323,314 shares of the company's stock valued at $5,438,000 after acquiring an additional 70,913 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ORN shares. Zacks Research upgraded shares of Orion Group from a "strong sell" rating to a "hold" rating in a report on Friday, October 30th. JPMorgan Chase & Co. dropped their target price on shares of Orion Group from $16.00 to $14.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 13th. Roth Capital set a $15.00 price target on shares of Orion Group in a research report on Thursday, July 30th. Wall Street Zen cut shares of Orion Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Oppenheimer decreased their price objective on shares of Orion Group from $20.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.75.

Orion Group Stock Performance

Orion Group stock traded up $0.32 during trading hours on Friday, reaching $7.21. 893,600 shares of the stock were exchanged, compared to its average volume of 597,368. The stock has a market cap of $293.00 million, a P/E ratio of 48.04 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.36 and a current ratio of 1.37. Orion Group Holdings, Inc. has a 52-week low of $6.75 and a 52-week high of $17.40. The firm's 50 day moving average is $8.84 and its 200 day moving average is $11.72.

Orion Group (NYSE:ORN - Get Free Report) last released its earnings results on Tuesday, October 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Orion Group had a return on equity of 3.59% and a net margin of 0.62%. The company had revenue of $256.15 million for the quarter, compared to analysts' expectations of $245.98 million. Analysts predict that Orion Group Holdings, Inc. will post 0.13 EPS for the current fiscal year.

About Orion Group

Orion Group Holdings, Inc NYSE: ORN is a construction company that provides infrastructure services for public- and private-sector customers in the United States. The company operates through its Marine and Concrete segments, serving markets that require specialized construction capabilities and project management.

Orion's marine construction business focuses on projects involving ports, waterways and other marine infrastructure. Its services include the construction and repair of piers, docks, bridges, breakwaters and other marine structures, as well as dredging, marine transportation and related site work.

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