Seven Six Capital Management LLC Takes Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Seven Six Capital Management LLC bought a new stake in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 331,599 shares of the construction company's stock, valued at approximately $3,744,000. Great Lakes Dredge & Dock comprises about 3.3% of Seven Six Capital Management LLC's portfolio, making the stock its 14th biggest holding. Seven Six Capital Management LLC owned approximately 0.49% of Great Lakes Dredge & Dock as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AlphaQuest LLC purchased a new stake in Great Lakes Dredge & Dock in the 4th quarter valued at $33,000. Federated Hermes Inc. grew its holdings in shares of Great Lakes Dredge & Dock by 878.9% in the fourth quarter. Federated Hermes Inc. now owns 5,619 shares of the construction company's stock valued at $63,000 after purchasing an additional 5,045 shares during the period. R Squared Ltd acquired a new stake in Great Lakes Dredge & Dock during the fourth quarter worth about $69,000. Lazard Asset Management LLC purchased a new position in Great Lakes Dredge & Dock during the fourth quarter worth about $118,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of Great Lakes Dredge & Dock in the 4th quarter valued at approximately $130,000. Institutional investors and hedge funds own 89.11% of the company's stock.

Great Lakes Dredge & Dock Trading Down 1.2%

NASDAQ:GLDD traded down $0.13 on Thursday, reaching $10.74. The company's stock had a trading volume of 164,599 shares, compared to its average volume of 469,090. The stock has a 50 day moving average price of $9.36 and a 200 day moving average price of $10.50. Great Lakes Dredge & Dock Co. has a 12-month low of $7.51 and a 12-month high of $12.89. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.97. The firm has a market cap of $729.19 million, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The construction company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.24. Great Lakes Dredge & Dock had a return on equity of 13.72% and a net margin of 7.51%. The company had revenue of $242.87 million for the quarter, compared to analysts' expectations of $206.70 million. On average, equities analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock declared that its Board of Directors has initiated a stock repurchase plan on Friday, March 14th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 8.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, SVP Eleni Beyko sold 22,579 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total transaction of $231,660.54. Following the sale, the senior vice president now directly owns 50,138 shares in the company, valued at $514,415.88. This represents a 31.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher Gunsten acquired 3,875 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the transaction, the senior vice president now directly owns 61,532 shares of the company's stock, valued at approximately $476,873. This trade represents a 6.72% increase in their position. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research report on Monday.

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.