Cubist Systematic Strategies LLC Has $2.10 Million Stake in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Cubist Systematic Strategies LLC trimmed its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,907 shares of the construction company’s stock after selling 18,797 shares during the period. Cubist Systematic Strategies LLC’s holdings in Great Lakes Dredge & Dock were worth $2,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Castlekeep Investment Advisors LLC acquired a new stake in Great Lakes Dredge & Dock in the 4th quarter valued at approximately $62,958,000. Balyasny Asset Management L.P. grew its stake in shares of Great Lakes Dredge & Dock by 101.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 88,415 shares of the construction company’s stock worth $998,000 after acquiring an additional 44,609 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Great Lakes Dredge & Dock by 39.7% during the 4th quarter. Bank of America Corp DE now owns 161,186 shares of the construction company’s stock worth $1,820,000 after acquiring an additional 45,810 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Great Lakes Dredge & Dock by 53.7% in the fourth quarter. BNP Paribas Financial Markets now owns 441,386 shares of the construction company’s stock valued at $4,983,000 after purchasing an additional 154,138 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter worth $249,000. 89.11% of the stock is owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD opened at $10.79 on Monday. The stock has a market capitalization of $732.92 million, a price-to-earnings ratio of 12.85, a PEG ratio of 1.06 and a beta of 1.23. Great Lakes Dredge & Dock Co. has a 12 month low of $7.51 and a 12 month high of $12.89. The firm has a fifty day simple moving average of $8.85 and a 200 day simple moving average of $10.51. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.97.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.24. The company had revenue of $242.87 million during the quarter, compared to the consensus estimate of $206.70 million. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. Research analysts forecast that Great Lakes Dredge & Dock Co. will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock declared that its board has authorized a stock repurchase program on Friday, March 14th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 8.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Great Lakes Dredge & Dock

In related news, SVP Eleni Beyko sold 22,579 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $10.26, for a total transaction of $231,660.54. Following the transaction, the senior vice president now directly owns 50,138 shares in the company, valued at approximately $514,415.88. The trade was a 31.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher Gunsten purchased 3,875 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $7.75 per share, with a total value of $30,031.25. Following the purchase, the senior vice president now owns 61,532 shares of the company’s stock, valued at approximately $476,873. The trade was a 6.72% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.20% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.