Insider Selling: Orion Group (NYSE:ORN) Director Sells 90,000 Shares of Stock

Orion Group Holdings, Inc. (NYSE:ORN) Director Austin Shanfelter sold 90,000 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $12.17, for a total value of $1,095,300.00. Following the completion of the sale, the director owned 329,215 shares of the company’s stock, valued at $4,006,546.55. This trade represents a 21.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Orion Group Stock Down 0.6%

Shares of NYSE:ORN traded down $0.07 during trading on Tuesday, hitting $11.71. 630,789 shares of the company’s stock traded hands, compared to its average volume of 379,385. The company has a current ratio of 1.36, a quick ratio of 1.35 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $12.28 and a 200-day moving average price of $10.22. Orion Group Holdings, Inc. has a 52 week low of $4.64 and a 52 week high of $15.00. The company has a market cap of $469.42 million, a price-to-earnings ratio of 234.24 and a beta of 1.15.

Orion Group (NYSE:ORN) last posted its earnings results on Tuesday, March 3rd. The construction company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $233.22 million during the quarter, compared to analysts’ expectations of $222.42 million. Orion Group had a return on equity of 4.14% and a net margin of 0.29%. As a group, research analysts forecast that Orion Group Holdings, Inc. will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion Group

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of Orion Group by 64.2% in the first quarter. AQR Capital Management LLC now owns 480,451 shares of the construction company’s stock valued at $2,513,000 after purchasing an additional 187,819 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Orion Group by 55.7% during the first quarter. NewEdge Advisors LLC now owns 25,001 shares of the construction company’s stock worth $131,000 after purchasing an additional 8,945 shares during the last quarter. Empowered Funds LLC boosted its holdings in Orion Group by 1.9% during the first quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock worth $626,000 after purchasing an additional 2,220 shares during the last quarter. Strs Ohio bought a new position in Orion Group in the first quarter valued at $175,000. Finally, Envestnet Asset Management Inc. grew its position in Orion Group by 6.4% in the second quarter. Envestnet Asset Management Inc. now owns 47,172 shares of the construction company’s stock valued at $428,000 after purchasing an additional 2,853 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ORN. Wall Street Zen raised shares of Orion Group from a “hold” rating to a “buy” rating in a research report on Saturday. DA Davidson boosted their price objective on shares of Orion Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Roth Mkm began coverage on shares of Orion Group in a research note on Tuesday, February 10th. They issued a “buy” rating and a $17.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Orion Group in a report on Thursday, January 22nd. They set an “overweight” rating and a $16.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Orion Group in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $16.25.

About Orion Group

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.