Polar Asset Management Partners Inc. Acquires New Position in Great Lakes Dredge & Dock Corporation $GLDD

Polar Asset Management Partners Inc. acquired a new stake in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 200,000 shares of the construction company’s stock, valued at approximately $3,400,000. Polar Asset Management Partners Inc. owned 0.30% of Great Lakes Dredge & Dock at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its stake in Great Lakes Dredge & Dock by 231.4% in 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 in the last quarter. Parallel Advisors LLC increased its holdings in Great Lakes Dredge & Dock by 39.0% during the 1st quarter. Parallel Advisors LLC now owns 2,304 shares of the construction company’s stock worth $39,000 after purchasing an additional 647 shares during the period. Bogart Wealth LLC purchased a new position in Great Lakes Dredge & Dock during the 1st quarter worth $51,000. Finally, Federated Hermes Inc. raised its position in Great Lakes Dredge & Dock by 43.5% during the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after purchasing an additional 1,505 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.

Great Lakes Dredge & Dock Stock Performance

NASDAQ:GLDD opened at $17.00 on Tuesday. Great Lakes Dredge & Dock Corporation has a one year low of $8.80 and a one year high of $17.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01. The firm has a market cap of $1.14 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. The firm has a 50-day simple moving average of $15.47 and a 200-day simple moving average of $16.06.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Great Lakes Dredge & Dock has an average rating of “Hold” and a consensus target price of $17.00.

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.