Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)’s share price rose 0.6% during mid-day trading on Friday . The stock traded as high as $4.45 and last traded at $4.38. Approximately 151,215 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 286,070 shares. The stock had previously closed at $4.35.

GLDD has been the topic of several recent research reports. Cantor Fitzgerald restated a “buy” rating and issued a $6.50 price target on shares of Great Lakes Dredge & Dock Corporation in a research report on Tuesday, July 11th. BidaskClub cut Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, ValuEngine upgraded Great Lakes Dredge & Dock Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th.

The firm’s market cap is $254.83 million. The stock has a 50-day moving average of $3.91 and a 200-day moving average of $4.24.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) last issued its earnings results on Wednesday, August 2nd. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. The business had revenue of $176.90 million during the quarter, compared to the consensus estimate of $201.70 million. Great Lakes Dredge & Dock Corporation had a positive return on equity of 1.00% and a negative net margin of 2.62%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) EPS. On average, equities analysts forecast that Great Lakes Dredge & Dock Corporation will post $0.02 earnings per share for the current fiscal year.

In other Great Lakes Dredge & Dock Corporation news, CEO Lasse Petterson purchased 17,255 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were bought at an average price of $3.70 per share, with a total value of $63,843.50. Following the completion of the acquisition, the chief executive officer now owns 349,176 shares in the company, valued at approximately $1,291,951.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have bought 291,904 shares of company stock worth $1,095,805. Corporate insiders own 8.24% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Great Lakes Dredge & Dock Corporation by 4.9% during the first quarter. Geode Capital Management LLC now owns 450,229 shares of the construction company’s stock valued at $1,800,000 after buying an additional 21,195 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Great Lakes Dredge & Dock Corporation by 1.4% during the first quarter. Russell Investments Group Ltd. now owns 1,250,276 shares of the construction company’s stock valued at $5,000,000 after buying an additional 17,797 shares during the last quarter. Private Management Group Inc. bought a new stake in shares of Great Lakes Dredge & Dock Corporation during the second quarter valued at approximately $4,139,000. Vanguard Group Inc. raised its holdings in shares of Great Lakes Dredge & Dock Corporation by 10.3% during the first quarter. Vanguard Group Inc. now owns 2,368,148 shares of the construction company’s stock valued at $9,472,000 after buying an additional 220,755 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in shares of Great Lakes Dredge & Dock Corporation by 4.8% during the first quarter. OppenheimerFunds Inc. now owns 39,677 shares of the construction company’s stock valued at $159,000 after buying an additional 1,807 shares during the last quarter. 71.23% of the stock is currently owned by institutional investors.

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Great Lakes Dredge & Dock Corporation Company Profile

Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors.

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