Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Orion Group Holdings, Inc. $ORN

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Orion Group Holdings, Inc. (NYSE:ORN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 207,396 shares of the construction company's stock, valued at approximately $3,488,000. Connor Clark & Lunn Investment Management Ltd. owned 0.51% of Orion Group as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quarry LP purchased a new position in shares of Orion Group during the 3rd quarter worth $33,000. Comerica Bank raised its holdings in Orion Group by 219.7% in the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company's stock valued at $43,000 after buying an additional 3,562 shares during the period. Fifth Third Bancorp acquired a new position in Orion Group in the first quarter valued at about $52,000. Susquehanna Fundamental Investments LLC acquired a new position in Orion Group in the third quarter valued at about $86,000. Finally, Millennium Management LLC purchased a new position in Orion Group during the third quarter worth about $91,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Insider Activity

In related news, Director Robert Ledford bought 20,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $9.62 per share, with a total value of $192,400.00. Following the purchase, the director directly owned 43,112 shares of the company's stock, valued at $414,737.44. This trade represents a 86.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary E. Sullivan purchased 3,000 shares of the business's stock in a transaction on Friday, July 31st. The shares were bought at an average price of $9.79 per share, for a total transaction of $29,370.00. Following the acquisition, the director owned 277,904 shares in the company, valued at $2,720,680.16. This trade represents a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 28,000 shares of company stock worth $270,820. Corporate insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ORN. Roth Capital set a $15.00 price target on shares of Orion Group in a research note on Thursday, July 30th. Weiss Ratings cut shares of Orion Group from a "hold (c)" rating to a "sell (d+)" rating in a research report on Thursday, July 30th. Zacks Research downgraded shares of Orion Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on Orion Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Finally, Oppenheimer initiated coverage on Orion Group in a research report on Tuesday, July 7th. They set an "outperform" rating and a $20.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.20.

Orion Group Trading Down 5.1%

NYSE ORN opened at $9.23 on Friday. The firm has a 50 day simple moving average of $12.17 and a 200-day simple moving average of $12.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.51 and a current ratio of 1.52. Orion Group Holdings, Inc. has a one year low of $7.08 and a one year high of $17.40. The firm has a market cap of $373.72 million, a price-to-earnings ratio of 102.57 and a beta of 1.40.

Orion Group (NYSE:ORN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The construction company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). Orion Group had a return on equity of 3.07% and a net margin of 0.40%.The business had revenue of $221.88 million for the quarter, compared to analysts' expectations of $225.72 million. Equities research analysts anticipate that Orion Group Holdings, Inc. will post 0.12 EPS for the current fiscal year.

Orion Group Company Profile

Orion Group NYSE: ORN is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.

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