Insider Buying: Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Major Shareholder Acquires 13,532 Shares of Stock

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) major shareholder Piton Capital Partners Llc acquired 13,532 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were bought at an average price of $5.00 per share, with a total value of $67,660.00. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Piton Capital Partners Llc also recently made the following trade(s):

  • On Thursday, November 21st, Piton Capital Partners Llc acquired 249,258 shares of Gulf Island Fabrication stock. The shares were bought at an average cost of $4.52 per share, with a total value of $1,126,646.16.

Shares of NASDAQ GIFI opened at $5.00 on Monday. The stock’s fifty day simple moving average is $5.08 and its 200 day simple moving average is $6.34. Gulf Island Fabrication, Inc. has a 52-week low of $4.25 and a 52-week high of $10.43.

Gulf Island Fabrication (NASDAQ:GIFI) last announced its earnings results on Monday, November 4th. The oil and gas company reported ($0.44) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.51). Gulf Island Fabrication had a negative net margin of 6.95% and a negative return on equity of 10.14%. The company had revenue of $75.80 million for the quarter.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Gulf Island Fabrication by 2.2% during the 2nd quarter. BlackRock Inc. now owns 1,446,635 shares of the oil and gas company’s stock worth $10,272,000 after buying an additional 31,640 shares during the period. Vanguard Group Inc. lifted its stake in Gulf Island Fabrication by 0.3% during the second quarter. Vanguard Group Inc. now owns 1,057,560 shares of the oil and gas company’s stock valued at $7,508,000 after buying an additional 3,289 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Gulf Island Fabrication by 37.8% during the second quarter. Renaissance Technologies LLC now owns 207,829 shares of the oil and gas company’s stock valued at $1,476,000 after buying an additional 57,029 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Gulf Island Fabrication by 25.4% in the second quarter. Invesco Ltd. now owns 68,226 shares of the oil and gas company’s stock worth $484,000 after buying an additional 13,805 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Gulf Island Fabrication by 187.3% in the second quarter. Morgan Stanley now owns 61,798 shares of the oil and gas company’s stock worth $439,000 after buying an additional 40,288 shares during the period. 64.71% of the stock is currently owned by hedge funds and other institutional investors.

Gulf Island Fabrication Company Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures, modules, and marine vessels in the United States. It operates through in segments: Fabrication, Shipyard, Services, and EPC. The Fabrication segment fabricates modules for petrochemical and industrial facilities, foundations for alternative energy developments, and other steel structures.

Featured Story: Neutral Rating

Receive News & Ratings for Gulf Island Fabrication Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gulf Island Fabrication and related companies with MarketBeat.com's FREE daily email newsletter.