Janney Montgomery Scott LLC Takes $373,000 Position in Gulf Island Fabrication, Inc. $GIFI

Key Points

• Janney Montgomery Scott LLC has acquired a new stake in Gulf Island Fabrication, purchasing 56,075 shares valued at approximately $373,000, representing about 0.35% of the company.
• Several hedge funds, including Goldman Sachs and Jane Street Group, have also increased their positions in Gulf Island Fabrication during the first quarter, indicating growing institutional interest in the stock.
• Gulf Island Fabrication reported earnings of $0.07 per share, missing analysts' expectations, with a revenue of $37.54 million for the quarter, which exceeded predictions.

Janney Montgomery Scott LLC acquired a new stake in shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 56,075 shares of the oil and gas company's stock, valued at approximately $373,000. Janney Montgomery Scott LLC owned about 0.35% of Gulf Island Fabrication at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Gulf Island Fabrication by 13.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,844 shares of the oil and gas company's stock valued at $96,000 after acquiring an additional 1,766 shares during the period. Shufro Rose & Co. LLC acquired a new position in shares of Gulf Island Fabrication in the 1st quarter valued at $115,000. Empowered Funds LLC increased its position in shares of Gulf Island Fabrication by 6.2% in the 1st quarter. Empowered Funds LLC now owns 28,144 shares of the oil and gas company's stock valued at $182,000 after acquiring an additional 1,654 shares during the period. Jane Street Group LLC increased its position in shares of Gulf Island Fabrication by 208.1% in the 1st quarter. Jane Street Group LLC now owns 37,488 shares of the oil and gas company's stock valued at $242,000 after acquiring an additional 25,321 shares during the period. Finally, Ritholtz Wealth Management increased its position in shares of Gulf Island Fabrication by 118.1% in the 1st quarter. Ritholtz Wealth Management now owns 38,139 shares of the oil and gas company's stock valued at $246,000 after acquiring an additional 20,650 shares during the period. 46.40% of the stock is owned by institutional investors and hedge funds.

Gulf Island Fabrication Trading Up 2.2%

GIFI stock opened at $7.41 on Friday. The company has a current ratio of 4.63, a quick ratio of 4.51 and a debt-to-equity ratio of 0.19. Gulf Island Fabrication, Inc. has a 12-month low of $5.12 and a 12-month high of $7.88. The stock has a market cap of $118.78 million, a price-to-earnings ratio of 12.56 and a beta of 0.33. The business's 50-day moving average is $7.12 and its 200 day moving average is $6.81.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). Gulf Island Fabrication had a return on equity of 12.59% and a net margin of 6.45%.The business had revenue of $37.54 million during the quarter, compared to analysts' expectations of $35.50 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Gulf Island Fabrication in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Gulf Island Fabrication presently has an average rating of "Hold".

Gulf Island Fabrication Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.

Want to see what other hedge funds are holding GIFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gulf Island Fabrication, Inc. (NASDAQ:GIFI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.