Jump Financial LLC Sells 38,380 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Jump Financial LLC has reduced its stake in Great Lakes Dredge & Dock Corporation by 59.8%, owning 25,800 shares valued at $224,000 after selling 38,380 shares in the first quarter.
• Several hedge funds have recently made significant changes to their holdings in the company, with GAMMA Investing LLC increasing its stake by 800.5% in the same period.
• Analysts have upgraded the stock's rating to a "Strong Buy" with a consensus price target of $14.00, following an earnings report where the company exceeded estimates with $0.14 EPS.

Jump Financial LLC decreased its stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,800 shares of the construction company's stock after selling 38,380 shares during the quarter. Jump Financial LLC's holdings in Great Lakes Dredge & Dock were worth $224,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Great Lakes Dredge & Dock by 19.6% in the 1st quarter. Victory Capital Management Inc. now owns 116,000 shares of the construction company's stock valued at $1,009,000 after buying an additional 19,000 shares in the last quarter. GAMMA Investing LLC boosted its stake in Great Lakes Dredge & Dock by 800.5% in the 1st quarter. GAMMA Investing LLC now owns 16,965 shares of the construction company's stock valued at $148,000 after buying an additional 15,081 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Great Lakes Dredge & Dock by 14.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,724 shares of the construction company's stock valued at $2,752,000 after purchasing an additional 30,394 shares during the last quarter. Minerva Advisors LLC raised its position in Great Lakes Dredge & Dock by 3.6% in the 1st quarter. Minerva Advisors LLC now owns 1,389,807 shares of the construction company's stock valued at $12,091,000 after purchasing an additional 48,000 shares during the last quarter. Finally, Mirabaud & Cie SA bought a new position in Great Lakes Dredge & Dock in the 1st quarter valued at $209,000. Institutional investors and hedge funds own 89.11% of the company's stock.

Wall Street Analyst Weigh In

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

Great Lakes Dredge & Dock Trading Up 1.6%

Shares of GLDD stock traded up $0.19 on Wednesday, reaching $11.98. 304,840 shares of the stock were exchanged, compared to its average volume of 351,862. The stock has a market cap of $814.64 million, a PE ratio of 11.41, a P/E/G ratio of 0.97 and a beta of 1.34. Great Lakes Dredge & Dock Corporation has a one year low of $7.51 and a one year high of $12.89. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 1.02. The stock has a 50 day moving average price of $11.45 and a 200 day moving average price of $10.41.

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

About Great Lakes Dredge & Dock

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.