Procurement News Notice |
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| PNN | 8373 |
| Work Detail | Great Lakes Dredge & Dock Corporation (GLDD) : Golden Gate Private Equity reduced its stake in Great Lakes Dredge & Dock Corporation by 65.06% during the most recent quarter end. The investment management company now holds a total of 50,000 shares of Great Lakes Dredge & Dock Corporation which is valued at $191,500 after selling 93,083 shares in Great Lakes Dredge & Dock Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Great Lakes Dredge & Dock Corporation makes up approximately 0.09% of Golden Gate Private Equity’s portfolio. Other Hedge Funds, Including , Rhumbline Advisers reduced its stake in GLDD by selling 21,585 shares or 23.72% in the most recent quarter. The Hedge Fund company now holds 69,395 shares of GLDD which is valued at $265,783.Gsa Capital Partners Llp boosted its stake in GLDD in the latest quarter, The investment management firm added 14,800 additional shares and now holds a total of 87,596 shares of Great Lakes Dredge & Dock Corporation which is valued at $326,733. Great Lakes Dredge & Dock Corporation makes up approx 0.02% of Gsa Capital Partners Llp’s portfolio. Great Lakes Dredge & Dock Corporation closed down -0.01 points or -0.26% at $3.85 with 75,538 shares getting traded on Thursday. Post opening the session at $3.85, the shares hit an intraday low of $3.78 and an intraday high of $3.89 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red. On the company’s financial health, Great Lakes Dredge & Dock Corporation reported $-0.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.01. The company had revenue of $192.19 million for the quarter, compared to analysts expectations of $217.35 million. The company’s revenue was down -19.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.05 EPS. Many Wall Street Analysts have commented on Great Lakes Dredge & Dock Corporation. Shares were Downgraded by Imperial Capital on Aug 8, 2016 to ” In-line” and Lowered the Price Target to $ 4 from a previous price target of $5.50 .Shares were Reiterated by DA Davidson on Aug 5, 2016 to “Neutral” and Lowered the Price Target to $ 4 from a previous price target of $5 . Great Lakes Dredge & Dock Corporation (Great Lakes) is a provider of dredging services. Great Lakes provides dredging services in the East West and Gulf Coasts of the United States and around the world. The Company operates in two segments: Dredging Operations which involves in the 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 soil water and sediment environmental remediation for clients in both the public and private sectors in the United States. The Company has a 50% interest in Amboy Aggregates (Amboy) a sand dredging operation in New Jersey; A 50% interest in Lower Main Street Development LLC (Lower Main) land development and sale business and a 50% interest in TerraSea Environmental Solutions (TerraSea) a remediation business. |
| Country | United States , Northern America |
| Industry | Financial Services |
| Entry Date | 15 Oct 2016 |
| Source | http://www.themarketdigest.org/201609/golden-gate-private-equity-lowers-stake-in-great-lakes-dredge-dock-corporation-gldd/3156207/ |
