Trexquant Investment LP Sells 30,735 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Trexquant Investment LP reduced its holdings in Great Lakes Dredge & Dock Corporation by 24.2%, owning approximately $836,000 worth of stock at the end of Q1.
• Other institutional investors have increased their positions in GLDD, with Jennison Associates LLC raising its stake by 22.7%, now valued at over $46 million.
• Great Lakes Dredge & Dock reported earnings of $0.14 per share, exceeding expectations and reflecting a strong financial performance with strong buy ratings from analysts.

Trexquant Investment LP trimmed its holdings in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,062 shares of the construction company's stock after selling 30,735 shares during the quarter. Trexquant Investment LP owned 0.14% of Great Lakes Dredge & Dock worth $836,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GLDD. Byrne Asset Management LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter worth approximately $40,000. Lazard Asset Management LLC acquired a new position in Great Lakes Dredge & Dock in the 4th quarter valued at about $118,000. AlphaQuest LLC grew its position in Great Lakes Dredge & Dock by 330.4% in the 1st quarter. AlphaQuest LLC now owns 12,598 shares of the construction company's stock valued at $110,000 after acquiring an additional 9,671 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Great Lakes Dredge & Dock in the 1st quarter valued at about $130,000. Finally, GAMMA Investing LLC lifted its stake in 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.

Analyst Ratings Changes

GLDD has been the topic of a number of recent analyst reports. Wall Street Zen raised Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Zacks Research upgraded Great Lakes Dredge & Dock to a "strong-buy" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Strong Buy" and an average price target of $14.00.

Great Lakes Dredge & Dock Trading Up 1.4%

Great Lakes Dredge & Dock stock traded up $0.17 during mid-day trading on Thursday, hitting $12.15. 154,824 shares of the company's stock were exchanged, compared to its average volume of 476,953. The company's 50 day simple moving average is $11.45 and its 200-day simple moving average is $10.41. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $7.51 and a fifty-two week high of $12.89. The firm has a market capitalization of $825.86 million, a P/E ratio of 11.56, a PEG ratio of 0.97 and a beta of 1.34. 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 issued its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. Great Lakes Dredge & Dock had a return on equity of 15.61% and a net margin of 8.63%.The company had revenue of $193.76 million during the quarter, compared to analysts' expectations of $177.70 million. On average, equities analysts anticipate 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.