Seven Six Capital Management LLC Sells 67,400 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Seven Six Capital Management LLC lessened its holdings in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) by 37.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,113 shares of the construction company’s stock after selling 67,400 shares during the quarter. Great Lakes Dredge & Dock comprises approximately 1.5% of Seven Six Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Seven Six Capital Management LLC owned 0.16% of Great Lakes Dredge & Dock worth $1,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLDD. Financial Management Professionals Inc. bought a new position in Great Lakes Dredge & Dock during the fourth quarter worth about $25,000. MAI Capital Management boosted its position in Great Lakes Dredge & Dock by 79.2% during the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after purchasing an additional 955 shares during the period. Farther Finance Advisors LLC boosted its position in 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 purchasing an additional 1,474 shares during the period. Strs Ohio bought a new position in Great Lakes Dredge & Dock during the first quarter worth about $45,000. Finally, Federated Hermes Inc. boosted its position in shares of Great Lakes Dredge & Dock by 43.5% in the second quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after acquiring an additional 1,505 shares during the period. Institutional investors own 89.11% of the company’s stock.

Wall Street Analyst Weigh In

GLDD has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 price objective for the company. in a research note on Thursday, March 26th. Wall Street Zen raised shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Saturday, April 4th. CJS Securities reaffirmed a “market perform” rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 11th. Finally, Zacks Research raised shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.00.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD opened at $9.60 on Wednesday. The firm has a market cap of $641.10 million, a price-to-earnings ratio of 8.97, a PEG ratio of 1.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01. Great Lakes Dredge & Dock Corporation has a fifty-two week low of $8.80 and a fifty-two week high of $17.02. The firm has a 50 day moving average price of $16.06 and a 200-day moving average price of $15.52.

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.