Great Lakes Dredge & Dock (NASDAQ:GLDD) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Great Lakes Dredge & Dock (NASDAQ:GLDD – Get Rating) in a report released on Thursday morning. The brokerage issued a sell rating on the construction company’s stock.

Great Lakes Dredge & Dock Stock Performance

Shares of NASDAQ GLDD traded down $0.19 during trading on Thursday, hitting $4.82. The company had a trading volume of 1,780,321 shares, compared to its average volume of 620,430. The stock has a 50 day simple moving average of $6.19 and a 200 day simple moving average of $7.02. The company has a quick ratio of 0.96, a current ratio of 1.14 and a debt-to-equity ratio of 0.87. Great Lakes Dredge & Dock has a 12 month low of $4.82 and a 12 month high of $15.40.

Institutional Trading of Great Lakes Dredge & Dock

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLDD. Rothschild & Co. Asset Management US Inc. bought a new stake in Great Lakes Dredge & Dock during the 3rd quarter valued at approximately $7,874,000. Private Management Group Inc. raised its stake in Great Lakes Dredge & Dock by 218.8% during the 4th quarter. Private Management Group Inc. now owns 1,018,146 shares of the construction company’s stock valued at $6,058,000 after purchasing an additional 698,808 shares during the period. Price Jennifer C. raised its stake in Great Lakes Dredge & Dock by 1,280.0% during the 3rd quarter. Price Jennifer C. now owns 690,000 shares of the construction company’s stock valued at $5,230,000 after purchasing an additional 640,000 shares during the period. Alliancebernstein L.P. raised its stake in Great Lakes Dredge & Dock by 18.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,609,597 shares of the construction company’s stock valued at $21,477,000 after purchasing an additional 563,787 shares during the period. Finally, Credit Suisse AG raised its stake in Great Lakes Dredge & Dock by 979.1% during the 3rd quarter. Credit Suisse AG now owns 596,769 shares of the construction company’s stock valued at $4,524,000 after purchasing an additional 541,468 shares during the period. Institutional investors own 88.13% of the company’s stock.

About Great Lakes Dredge & Dock

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Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.