Tudor Investment Corp ET AL Grows Position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Tudor Investment Corp ET AL increased its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 44.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,238 shares of the construction company's stock after purchasing an additional 70,088 shares during the period. Tudor Investment Corp ET AL owned 0.34% of Great Lakes Dredge & Dock worth $2,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLDD. AlphaQuest LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth about $33,000. Federated Hermes Inc. increased 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 shares of Great Lakes Dredge & Dock during the fourth quarter worth $69,000. Semanteon Capital Management LP acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth $130,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Great Lakes Dredge & Dock in the 4th quarter valued at $132,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock traded up $0.12 during mid-day trading on Friday, hitting $10.70. The stock had a trading volume of 248,277 shares, compared to its average volume of 463,688. The firm has a market cap of $720.76 million, a PE ratio of 12.74, a PEG ratio of 1.06 and a beta of 1.23. The company's 50-day simple moving average is $8.79 and its 200-day simple moving average is $10.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 1.01. Great Lakes Dredge & Dock Co. has a fifty-two week low of $7.51 and a fifty-two week high of $12.89.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.24. The firm had revenue of $242.87 million during the quarter, compared to the consensus estimate of $206.70 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. Sell-side analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current year.

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

Insider Buying and Selling at Great Lakes Dredge & Dock

In other news, SVP Christopher Gunsten purchased 3,875 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $7.75 per share, with a total value of $30,031.25. Following the purchase, the senior vice president now directly owns 61,532 shares of the company's stock, valued at $476,873. The trade was a 6.72 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Eleni Beyko sold 22,579 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total value of $231,660.54. Following the completion of the transaction, the senior vice president now directly owns 50,138 shares of the company's stock, valued at $514,415.88. The trade was a 31.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.

About Great Lakes Dredge & Dock

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.