Orion Group (NYSE:ORN) Director Acquires 20,000 Shares of Stock

Key Points

• Director Robert Ledford bought 20,000 Orion Group shares at an average price of $9.62, investing $192,400 and increasing his ownership by 86.54% to 43,112 shares.
• Orion Group reported quarterly EPS of $0.02, missing the $0.06 consensus estimate, while revenue of $221.88 million also fell short of analysts’ $225.72 million forecast.
• Analyst sentiment is mixed, but the stock retains a “Moderate Buy” consensus with an average price target of $17.20; institutional investors own 70.25% of shares.

Orion Group Holdings, Inc. (NYSE:ORN - Get Free Report) Director Robert Ledford acquired 20,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average price of $9.62 per share, with a total value of $192,400.00. Following the completion of the transaction, the director owned 43,112 shares in the company, valued at $414,737.44. This represents a 86.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Orion Group Price Performance

Orion Group stock traded up $0.23 during mid-day trading on Tuesday, reaching $10.22. The company had a trading volume of 661,231 shares, compared to its average volume of 431,946. Orion Group Holdings, Inc. has a fifty-two week low of $6.44 and a fifty-two week high of $17.40. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.62. The company has a market cap of $414.02 million, a P/E ratio of 113.61 and a beta of 1.34. The business has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $13.04.

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

Analyst Ratings Changes

ORN has been the subject of several research reports. Wall Street Zen downgraded Orion Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings cut Orion Group from a "hold (c)" rating to a "sell (d+)" rating in a report on Thursday. Oppenheimer started coverage on shares of Orion Group in a research report on Tuesday, July 7th. They issued an "outperform" rating and a $20.00 price target for the company. Zacks Research downgraded shares of Orion Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Orion Group from $16.00 to $19.00 and gave the stock 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.20.

Institutional Investors Weigh In On Orion Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Orion Group in the third quarter worth approximately $33,000. Comerica Bank increased its position in Orion Group by 219.7% during the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company's stock valued at $43,000 after purchasing an additional 3,562 shares during the period. Fifth Third Bancorp bought a new position in Orion Group during the 1st quarter worth approximately $52,000. Susquehanna Fundamental Investments LLC bought a new position in Orion Group during the 3rd quarter worth approximately $86,000. Finally, Millennium Management LLC acquired a new position in shares of Orion Group in the 3rd quarter worth approximately $91,000. Institutional investors and hedge funds own 70.25% of the company's stock.

About Orion Group

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.

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