Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,526,658 shares, a decrease of 35.4% from the August 15th total of 2,361,762 shares. Based on an average trading volume of 117,857 shares, the short-interest ratio is presently 13.0 days. Approximately 2.6% of the shares of the stock are short sold.

A number of equities analysts have recently weighed in on the company. TheStreet raised Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research note on Monday, September 10th. BidaskClub raised Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research note on Saturday, September 8th. ValuEngine raised Great Lakes Dredge & Dock from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 19th. Noble Financial reissued a “buy” rating and set a $8.00 price target on shares of Great Lakes Dredge & Dock in a research note on Wednesday, July 18th. Finally, Zacks Investment Research lowered Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Great Lakes Dredge & Dock presently has an average rating of “Hold” and an average target price of $8.00.

Shares of Great Lakes Dredge & Dock stock opened at $5.80 on Tuesday. Great Lakes Dredge & Dock has a 12 month low of $4.15 and a 12 month high of $5.95. The company has a market cap of $364.49 million, a P/E ratio of -21.67 and a beta of 0.70. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.54.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings results on Wednesday, August 1st. The construction company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Great Lakes Dredge & Dock had a negative return on equity of 8.35% and a negative net margin of 3.69%. The company had revenue of $150.59 million during the quarter, compared to analyst estimates of $182.50 million. During the same period in the prior year, the company earned ($0.07) earnings per share. The firm’s revenue was down 14.9% on a year-over-year basis. research analysts predict that Great Lakes Dredge & Dock will post 0.01 earnings per share for the current year.

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average price of $5.30 per share, with a total value of $265,000.00. Following the completion of the purchase, the chief executive officer now directly owns 675,609 shares in the company, valued at approximately $3,580,727.70. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.24% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in Great Lakes Dredge & Dock by 10.3% during the first quarter. Victory Capital Management Inc. now owns 224,800 shares of the construction company’s stock valued at $1,034,000 after purchasing an additional 21,000 shares during the period. KBC Group NV raised its position in Great Lakes Dredge & Dock by 23.2% during the first quarter. KBC Group NV now owns 57,047 shares of the construction company’s stock valued at $262,000 after purchasing an additional 10,730 shares during the period. Northern Trust Corp raised its position in Great Lakes Dredge & Dock by 1.7% during the first quarter. Northern Trust Corp now owns 681,150 shares of the construction company’s stock valued at $3,133,000 after purchasing an additional 11,074 shares during the period. Russell Investments Group Ltd. raised its position in Great Lakes Dredge & Dock by 37.8% during the first quarter. Russell Investments Group Ltd. now owns 4,873,165 shares of the construction company’s stock valued at $22,416,000 after purchasing an additional 1,336,010 shares during the period. Finally, Deltec Asset Management LLC raised its position in Great Lakes Dredge & Dock by 120.0% during the first quarter. Deltec Asset Management LLC now owns 55,000 shares of the construction company’s stock valued at $253,000 after purchasing an additional 30,000 shares during the period. 75.35% of the stock is owned by institutional investors.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. It operates through two segments, Dredging, and Environmental & Infrastructure. The Dredging segment is involved in capital dredging that consists of port expansion projects, coastal restoration and land reclamations, trench digging for pipelines, tunnels and cables, and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.

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