Traders Purchase High Volume of Call Options on Great Lakes Dredge & Dock (NASDAQ:GLDD)

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) was the target of unusually large options trading on Wednesday. Stock investors purchased 7,147 call options on the company. This is an increase of 1,401% compared to the average daily volume of 476 call options.

Insider Activity at Great Lakes Dredge & Dock

In related news, SVP David Johanson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $13.02, for a total transaction of $130,200.00. Following the completion of the transaction, the senior vice president owned 94,063 shares in the company, valued at $1,224,700.26. This trade represents a 9.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new position in shares of Great Lakes Dredge & Dock during the 4th quarter worth approximately $25,000. MAI Capital Management boosted its stake in Great Lakes Dredge & Dock by 79.2% in the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock valued at $26,000 after buying an additional 955 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Great Lakes Dredge & Dock by 231.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after buying an additional 1,474 shares during the last quarter. Strs Ohio acquired a new position in Great Lakes Dredge & Dock in the 1st quarter worth about $45,000. Finally, State of Alaska Department of Revenue bought a new position in Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $46,000. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock News Summary

Here are the key news stories impacting Great Lakes Dredge & Dock this week:

• Positive Sentiment: Definitive sale agreed — Saltchuk will acquire Great Lakes in a transaction valuing equity at about $1.2B and total consideration near $1.5B; Saltchuk will commence a $17.00-per-share tender offer (board-unanimous approval). Great Lakes Dredge & Dock to Join the Saltchuk Family of Companies
• Positive Sentiment: Unusual bullish options activity: roughly 7,147 call contracts were bought — a large spike vs. average call volume, consistent with traders positioning for the deal or merger-related upside.
• Neutral Sentiment: Trading and technicals: volume has surged well above average and the shares are trading near their 12‑month high; that reflects takeover interest but could compress spreads until the tender offer closes.
• Neutral Sentiment: Short-interest history is mixed/unreliable in recent feeds — data shows a notable short buildup as of Jan. 30 (~2.08M shares, ~3.1% of shares outstanding, ~2 days to cover) but some later feeds report zero, suggesting reporting noise. Short positions could affect near-term volatility and arbitrage flows.
• Negative Sentiment: Multiple shareholder-lawyer investigations launched contesting whether $17.00 is a fair price; several firms (Halper Sadeh, Monteverde, Ademi, Wohl & Fruchter) are soliciting claimants, which could mean litigation, proxy fights or delay risks. Halper Sadeh investigation Monteverde alert Ademi alert Wohl & Fruchter alert
• Negative Sentiment: Analyst/earnings note: some analysts expect a decline in 2025 earnings, which could limit alternative bids or change negotiation dynamics if underlying operating results disappoint. Zacks earnings preview

Great Lakes Dredge & Dock Trading Up 5.0%

Shares of NASDAQ:GLDD opened at $16.95 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.20. Great Lakes Dredge & Dock has a 52-week low of $7.51 and a 52-week high of $16.99. The company has a 50-day simple moving average of $14.19 and a 200 day simple moving average of $12.62. The company has a market capitalization of $1.15 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 1.22 and a beta of 1.42.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GLDD shares. CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Thursday, December 11th. Wall Street Zen lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Saturday, January 24th. Zacks Research cut shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. Finally, Noble Financial reaffirmed an “outperform” rating on shares of Great Lakes Dredge & Dock in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.00.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.