Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) traded down 1.6% during trading on Tuesday . The company traded as low as $3.58 and last traded at $3.65, with a volume of 85,077 shares. The stock had previously closed at $3.71.

Several equities analysts recently issued reports on the stock. DA Davidson reduced their price objective on shares of Great Lakes Dredge & Dock Corp. from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Zacks Investment Research lowered Great Lakes Dredge & Dock Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 9th. Finally, Imperial Capital lowered Great Lakes Dredge & Dock Corp. from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $5.50 to $4.00 in a research note on Monday, August 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $4.50.

The stock has a 50 day moving average of $3.85 and a 200-day moving average of $4.28. The company’s market cap is $221.73 million.

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Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.04. The company earned $192.19 million during the quarter, compared to the consensus estimate of $222.13 million. Great Lakes Dredge & Dock Corp. had a negative net margin of 0.79% and a negative return on equity of 2.50%. The company’s revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. Equities analysts anticipate that Great Lakes Dredge & Dock Corp. will post ($0.02) EPS for the current fiscal year.

In other news, Director Robert B. Uhler purchased 35,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was purchased at an average cost of $4.02 per share, with a total value of $140,700.00. Following the purchase, the director now owns 46,116 shares in the company, valued at approximately $185,386.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.75% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Great Lakes Dredge & Dock Corp. by 30.4% in the first quarter. State Street Corp now owns 1,170,963 shares of the company’s stock worth $5,218,000 after buying an additional 273,247 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in Great Lakes Dredge & Dock Corp. by 48.1% in the first quarter. Kennedy Capital Management Inc. now owns 603,230 shares of the company’s stock worth $2,690,000 after buying an additional 195,896 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Great Lakes Dredge & Dock Corp. by 1.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 45,003 shares of the company’s stock worth $201,000 after buying an additional 437 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Great Lakes Dredge & Dock Corp. by 5.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,662,624 shares of the company’s stock worth $7,415,000 after buying an additional 81,650 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Great Lakes Dredge & Dock Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 386,537 shares of the company’s stock worth $1,723,000 after buying an additional 4,135 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

About Great Lakes Dredge & Dock Corp.

Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors in the United States.

5 Day Chart for NASDAQ:GLDD

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