Ritholtz Wealth Management Acquires 20,650 Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI)

Ritholtz Wealth Management grew its holdings in shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) by 118.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,139 shares of the oil and gas company’s stock after buying an additional 20,650 shares during the period. Ritholtz Wealth Management owned approximately 0.23% of Gulf Island Fabrication worth $246,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC bought a new position in shares of Gulf Island Fabrication during the 4th quarter worth approximately $180,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Gulf Island Fabrication by 14.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,594 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 6,187 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Gulf Island Fabrication in the 4th quarter worth $83,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Gulf Island Fabrication by 5.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 39,900 shares of the oil and gas company’s stock worth $272,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Gulf Island Fabrication in the 4th quarter worth $219,000. 46.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Gulf Island Fabrication from a “hold” rating to a “buy” rating in a report on Thursday, May 8th.

Gulf Island Fabrication Price Performance

Shares of GIFI opened at $6.91 on Friday. Gulf Island Fabrication, Inc. has a 12-month low of $5.12 and a 12-month high of $7.59. The business’s fifty day moving average is $6.57 and its 200 day moving average is $6.69. The company has a quick ratio of 4.76, a current ratio of 4.90 and a debt-to-equity ratio of 0.18. The stock has a market cap of $112.08 million, a P/E ratio of 9.34 and a beta of 0.22.

Gulf Island Fabrication (NASDAQ:GIFI) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.15. The business had revenue of $40.27 million during the quarter, compared to analyst estimates of $36.50 million. Gulf Island Fabrication had a return on equity of 13.50% and a net margin of 7.87%.

Gulf Island Fabrication Company Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.