Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Short Interest Up 71.3% in June

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 1,730,000 shares, an increase of 71.3% from the May 31st total of 1,010,000 shares. Based on an average trading volume of 393,200 shares, the days-to-cover ratio is currently 4.4 days. Approximately 2.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Large investors have recently modified their holdings of the business. Sugar Maple Asset Management LLC acquired a new stake in shares of Great Lakes Dredge & Dock in the first quarter valued at about $540,000. Bayesian Capital Management LP acquired a new position in shares of Great Lakes Dredge & Dock in the 1st quarter valued at $137,000. Caxton Associates LP grew its position in Great Lakes Dredge & Dock by 120.0% in the 1st quarter. Caxton Associates LP now owns 57,317 shares of the construction company’s stock valued at $502,000 after buying an additional 31,259 shares during the last quarter. PEAK6 Investments LLC grew its position in Great Lakes Dredge & Dock by 20.8% in the 1st quarter. PEAK6 Investments LLC now owns 66,109 shares of the construction company’s stock valued at $578,000 after buying an additional 11,365 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its position in shares of Great Lakes Dredge & Dock by 23.7% during the 1st quarter. Quadrature Capital Ltd now owns 18,278 shares of the construction company’s stock worth $160,000 after purchasing an additional 3,506 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Trading Down 1.2 %

Shares of Great Lakes Dredge & Dock stock traded down $0.11 during trading on Friday, reaching $8.78. 945,777 shares of the stock were exchanged, compared to its average volume of 383,968. Great Lakes Dredge & Dock has a 1 year low of $6.11 and a 1 year high of $9.78. The firm has a market cap of $588.35 million, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 0.35 and a beta of 1.14. The stock’s fifty day moving average is $8.66 and its 200 day moving average is $8.30. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 0.93.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Tuesday, May 7th. The construction company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.25. The business had revenue of $198.66 million for the quarter, compared to analysts’ expectations of $176.45 million. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. As a group, equities research analysts expect that Great Lakes Dredge & Dock will post 0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.