Great Lakes Dredge & Dock Corporation $GLDD Shares Sold by Jump Financial LLC

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 shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 59.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,800 shares of the construction company's stock after selling 38,380 shares during the period. Jump Financial LLC's holdings in Great Lakes Dredge & Dock were worth $224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC lifted its stake in shares of Great Lakes Dredge & Dock by 22.7% in the 1st quarter. Jennison Associates LLC now owns 5,310,894 shares of the construction company's stock valued at $46,205,000 after purchasing an additional 981,652 shares in the last quarter. CenterBook Partners LP grew its stake in Great Lakes Dredge & Dock by 169.2% during the first quarter. CenterBook Partners LP now owns 1,121,974 shares of the construction company's stock worth $9,761,000 after buying an additional 705,159 shares during the period. Millennium Management LLC grew its stake in Great Lakes Dredge & Dock by 254.3% during the fourth quarter. Millennium Management LLC now owns 698,071 shares of the construction company's stock worth $7,881,000 after buying an additional 501,032 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Great Lakes Dredge & Dock during the fourth quarter worth approximately $5,521,000. Finally, Nuveen LLC purchased a new stake in Great Lakes Dredge & Dock during the first quarter worth approximately $3,960,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Great Lakes Dredge & Dock Stock Up 0.5%

Shares of GLDD traded up $0.06 during midday trading on Friday, hitting $11.73. The company had a trading volume of 275,315 shares, compared to its average volume of 370,056. The company's 50 day moving average price is $11.46 and its 200 day moving average price is $10.37. The stock has a market cap of $797.64 million, a price-to-earnings ratio of 11.17, a PEG ratio of 0.96 and a beta of 1.34. Great Lakes Dredge & Dock Corporation has a 52 week low of $7.51 and a 52 week high of $12.89. 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 earnings results 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. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%. The company had revenue of $193.76 million during the quarter, compared to the consensus estimate of $177.70 million. On average, equities research analysts predict that Great Lakes Dredge & Dock Corporation will post 0.69 EPS 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.