CenterBook Partners LP Purchases 77,900 Shares of Orion Group Holdings, Inc. (NYSE:ORN)

CenterBook Partners LP boosted its holdings in Orion Group Holdings, Inc. (NYSE:ORN - Free Report) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 718,486 shares of the construction company's stock after purchasing an additional 77,900 shares during the period. CenterBook Partners LP owned approximately 1.82% of Orion Group worth $3,758,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ORN. Lazard Asset Management LLC purchased a new position in shares of Orion Group during the fourth quarter valued at about $41,000. Heck Capital Advisors LLC purchased a new position in shares of Orion Group during the fourth quarter valued at about $49,000. Quarry LP purchased a new position in shares of Orion Group during the fourth quarter valued at about $52,000. CWM LLC increased its position in shares of Orion Group by 303.5% during the first quarter. CWM LLC now owns 8,579 shares of the construction company's stock valued at $45,000 after buying an additional 6,453 shares during the period. Finally, Perritt Capital Management Inc purchased a new position in shares of Orion Group during the fourth quarter valued at about $73,000. 70.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Austin J. Shanfelter sold 30,000 shares of Orion Group stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.67, for a total transaction of $260,100.00. Following the completion of the sale, the director owned 419,215 shares in the company, valued at $3,634,594.05. This trade represents a 6.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ORN shares. B. Riley restated a "buy" rating and issued a $11.50 price objective (up previously from $9.00) on shares of Orion Group in a report on Tuesday, June 10th. Wall Street Zen upgraded shares of Orion Group from a "hold" rating to a "buy" rating in a research report on Friday, April 18th.

Orion Group Price Performance

Shares of NYSE:ORN traded down $0.07 on Tuesday, reaching $8.37. The company's stock had a trading volume of 238,868 shares, compared to its average volume of 425,313. Orion Group Holdings, Inc. has a 52-week low of $4.64 and a 52-week high of $12.12. The company has a market cap of $331.03 million, a P/E ratio of 167.43, a PEG ratio of 33.76 and a beta of 1.00. The company has a 50-day simple moving average of $8.58 and a 200 day simple moving average of $7.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.37 and a current ratio of 1.38.

Orion Group (NYSE:ORN - Get Free Report) last released its earnings results on Tuesday, April 29th. The construction company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.12. The firm had revenue of $188.65 million during the quarter, compared to analyst estimates of $177.33 million. Orion Group had a net margin of 0.36% and a return on equity of 5.12%. As a group, equities research analysts anticipate that Orion Group Holdings, Inc. will post 0.06 EPS for the current fiscal year.

Orion Group Profile

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company provides marine construction services, including construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.