Orion Group (NYSE:ORN) Issues Earnings Results

Orion Group (NYSE:ORN) announced its quarterly earnings results on Wednesday. The construction company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06, reports. The business had revenue of $160.67 million for the quarter, compared to analyst estimates of $174.75 million. Orion Group had a negative net margin of 1.59% and a negative return on equity of 4.07%.

Orion Group Stock Performance

Shares of ORN opened at $7.48 on Friday. The firm’s 50-day moving average price is $7.84 and its 200-day moving average price is $6.04. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.31. Orion Group has a 1-year low of $2.35 and a 1-year high of $9.84.

Insider Activity

In related news, EVP Edward Chipman Earle bought 8,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $6.88 per share, with a total value of $55,040.00. Following the purchase, the executive vice president now owns 69,602 shares of the company’s stock, valued at approximately $478,861.76. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other Orion Group news, EVP Edward Chipman Earle purchased 8,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average cost of $6.88 per share, with a total value of $55,040.00. Following the transaction, the executive vice president now directly owns 69,602 shares in the company, valued at approximately $478,861.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Travis J. Boone bought 12,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $7.01 per share, with a total value of $84,120.00. Following the completion of the acquisition, the chief executive officer now directly owns 402,557 shares of the company’s stock, valued at approximately $2,821,924.57. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 22,430 shares of company stock valued at $156,340. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Orion Group

A number of hedge funds have recently bought and sold shares of the business. AJOVista LLC bought a new position in Orion Group during the 4th quarter worth about $51,000. Tower Research Capital LLC TRC increased its holdings in shares of Orion Group by 2,851.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,448 shares of the construction company’s stock valued at $52,000 after purchasing an additional 10,094 shares in the last quarter. Jump Financial LLC acquired a new stake in Orion Group in the 4th quarter valued at $82,000. Citigroup Inc. acquired a new stake in Orion Group during the 3rd quarter worth $98,000. Finally, Belvedere Trading LLC purchased a new stake in shares of Orion Group during the third quarter worth $112,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

ORN has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Orion Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 9th. B. Riley reissued a “buy” rating and issued a $9.50 price target (up previously from $6.25) on shares of Orion Group in a report on Thursday, March 14th.

Orion Group Company Profile

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company provides marine construction services, including construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.