GSA Capital Partners LLP Sells 71,339 Shares of Great Lakes Dredge & Dock Corporation $GLDD

GSA Capital Partners LLP cut its holdings in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 32.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,542 shares of the construction company’s stock after selling 71,339 shares during the period. GSA Capital Partners LLP owned about 0.22% of Great Lakes Dredge & Dock worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Strs Ohio purchased a new position in Great Lakes Dredge & Dock in the first quarter worth about $45,000. State of Alaska Department of Revenue bought a new stake in shares of Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $46,000. Federated Hermes Inc. lifted its stake in shares of Great Lakes Dredge & Dock by 43.5% in the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after purchasing an additional 1,505 shares during the last quarter. CWM LLC increased its position in shares of Great Lakes Dredge & Dock by 125.0% during the 3rd quarter. CWM LLC now owns 6,995 shares of the construction company’s stock valued at $84,000 after purchasing an additional 3,886 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Great Lakes Dredge & Dock by 5,519.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,160 shares of the construction company’s stock valued at $112,000 after buying an additional 8,997 shares during the period. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GLDD has been the subject of a number of analyst reports. Zacks Research lowered shares of Great Lakes Dredge & Dock from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Weiss Ratings upgraded shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a 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 research report on Saturday, January 24th. Finally, JPMorgan Chase & Co. started coverage on Great Lakes Dredge & Dock in a research report on Thursday, January 22nd. They set an “overweight” rating and a $20.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Great Lakes Dredge & Dock Trading Down 0.2%

Shares of NASDAQ GLDD opened at $16.85 on Wednesday. Great Lakes Dredge & Dock Corporation has a twelve month low of $7.51 and a twelve month high of $16.99. The firm has a market cap of $1.15 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. The business has a fifty day simple moving average of $14.49 and a two-hundred day simple moving average of $12.79. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 0.83.

Insider Transactions at Great Lakes Dredge & Dock

In other news, SVP David Johanson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $13.02, for a total value of $130,200.00. Following the completion of the sale, the senior vice president owned 94,063 shares of the company’s stock, valued at approximately $1,224,700.26. This represents a 9.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

Great Lakes Dredge & Dock Profile

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.