Mary Sullivan Acquires 3,000 Shares of Orion Group (NYSE:ORN) Stock

Key Points

• Director Mary Sullivan bought 3,000 Orion Group shares at an average price of $9.79, investing $29,370 and increasing her direct holdings by 1.09% to 277,904 shares.
• Orion Group’s latest quarterly results fell short of expectations, with EPS of $0.02 versus the $0.06 consensus estimate and revenue of $221.88 million versus forecasts of $225.72 million.
• Analyst sentiment remains mixed but leans positive: the stock has a “Moderate Buy” consensus rating and a $17.20 average price target, despite recent downgrades and shares trading near $10.22.

Orion Group Holdings, Inc. (NYSE:ORN - Get Free Report) Director Mary Sullivan bought 3,000 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $9.79 per share, with a total value of $29,370.00. Following the purchase, the director directly owned 277,904 shares of the company's stock, valued at approximately $2,720,680.16. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Orion Group Stock Performance

Shares of NYSE ORN traded up $0.23 during midday trading on Tuesday, reaching $10.22. 661,486 shares of the company were exchanged, compared to its average volume of 431,946. The stock has a market cap of $414.02 million, a P/E ratio of 113.61 and a beta of 1.34. Orion Group Holdings, Inc. has a 1 year low of $6.44 and a 1 year high of $17.40. The stock has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $13.04. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.62.

Orion Group (NYSE:ORN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). Orion Group had a net margin of 0.40% and a return on equity of 3.07%. The company had revenue of $221.88 million for the quarter, compared to analysts' expectations of $225.72 million. On average, research analysts forecast that Orion Group Holdings, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of Orion Group

Several hedge funds have recently modified their holdings of the business. Wasatch Advisors LP purchased a new stake in Orion Group during the second quarter worth $12,885,000. Invesco Ltd. increased its position in shares of Orion Group by 79.4% in the third quarter. Invesco Ltd. now owns 1,271,358 shares of the construction company's stock valued at $10,578,000 after buying an additional 562,863 shares in the last quarter. Simcoe Capital LLC acquired a new position in shares of Orion Group during the 4th quarter worth $4,509,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Orion Group in the 4th quarter worth about $2,977,000. Finally, JPMorgan Chase & Co. grew its stake in Orion Group by 727.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 283,236 shares of the construction company's stock valued at $2,569,000 after acquiring an additional 248,988 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ORN shares. Weiss Ratings downgraded Orion Group from a "hold (c)" rating to a "sell (d+)" rating in a report on Thursday. Zacks Research cut shares of Orion Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Roth Capital set a $15.00 price objective on shares of Orion Group in a research report on Thursday, July 30th. Wall Street Zen cut shares of Orion Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Orion Group from $16.00 to $19.00 and gave the company an "overweight" rating in a report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.20.

Orion Group Company Profile

Orion Group NYSE: ORN is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.