EntryPoint Capital LLC Makes New Investment in Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• EntryPoint Capital LLC has acquired a new position in Great Lakes Dredge & Dock Corporation, purchasing 23,733 shares valued at approximately $206,000 during the first quarter.
• Great Lakes Dredge & Dock has received a consensus rating of "Strong Buy" from analysts, with an average price target of $14.00.
• The company reported a quarterly earnings per share of $0.14, exceeding the expected $0.08 and driving revenue of $193.76 million.

EntryPoint Capital LLC acquired a new position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 23,733 shares of the construction company's stock, valued at approximately $206,000.

A number of other institutional investors have also recently added to or reduced their stakes in GLDD. Byrne Asset Management LLC acquired a new position in Great Lakes Dredge & Dock in the 1st quarter worth $40,000. Lazard Asset Management LLC bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth about $118,000. XTX Topco Ltd bought a new position in shares of Great Lakes Dredge & Dock during the first quarter worth about $130,000. Walleye Capital LLC bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth about $137,000. Finally, GAMMA Investing LLC lifted its position in shares of Great Lakes Dredge & Dock by 800.5% during the first quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company's stock worth $148,000 after purchasing an additional 15,081 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GLDD shares. Wall Street Zen raised shares of Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. Zacks Research raised shares of Great Lakes Dredge & Dock to a "strong-buy" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Strong Buy" and an average price target of $14.00.

Insiders Place Their Bets

In related news, Director Ronald Steger sold 5,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.59, for a total transaction of $57,950.00. Following the sale, the director owned 20,404 shares in the company, valued at $236,482.36. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Great Lakes Dredge & Dock Price Performance

GLDD opened at $11.92 on Friday. The firm has a market cap of $810.50 million, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $7.51 and a fifty-two week high of $12.89. The company's 50-day moving average price is $11.50 and its 200 day moving average price is $10.29. The company has a quick ratio of 1.02, a current ratio of 1.15 and a debt-to-equity ratio of 0.87.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.06. The firm had revenue of $193.76 million for the quarter, compared to analyst estimates of $177.70 million. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%. As a group, sell-side analysts expect that Great Lakes Dredge & Dock Corporation will post 0.69 earnings per share for the current year.

Great Lakes Dredge & Dock Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.

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