Globeflex Capital L P Acquires Shares of 71,310 Orion Group Holdings, Inc. $ORN

Globeflex Capital L P bought a new stake in Orion Group Holdings, Inc. (NYSE:ORN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 71,310 shares of the construction company’s stock, valued at approximately $1,199,000. Globeflex Capital L P owned approximately 0.18% of Orion Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Orion Group during the 2nd quarter worth $50,595,000. Wasatch Advisors LP purchased a new position in Orion Group in the 2nd quarter valued at about $12,885,000. Invesco Ltd. boosted its position in Orion Group by 79.4% in the 3rd quarter. Invesco Ltd. now owns 1,271,358 shares of the construction company’s stock valued at $10,578,000 after buying an additional 562,863 shares during the last quarter. Simcoe Capital LLC acquired a new stake in shares of Orion Group during the fourth quarter valued at about $4,509,000. Finally, De Lisle Partners LLP acquired a new stake in shares of Orion Group during the second quarter valued at about $7,067,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ORN has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Zacks Research downgraded shares of Orion Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Oppenheimer began coverage on shares of Orion Group in a report on Tuesday, July 7th. They set an “outperform” rating and a $20.00 price objective for the company. Roth Capital set a $15.00 target price on shares of Orion Group in a research note on Thursday, July 30th. Finally, Wall Street Zen cut shares of Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 1st. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Orion Group currently has an average rating of “Hold” and an average target price of $17.20.

Insider Activity

In other Orion Group news, Director Robert Ledford bought 20,000 shares of Orion Group stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $9.62 per share, for a total transaction of $192,400.00. Following the completion of the acquisition, the director owned 43,112 shares of the company’s stock, valued at approximately $414,737.44. This represents a 86.54% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward Chipman Earle bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $9.81 per share, for a total transaction of $49,050.00. Following the completion of the acquisition, the executive vice president directly owned 150,042 shares in the company, valued at approximately $1,471,912.02. The trade was a 3.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 28,000 shares of company stock worth $270,820. Corporate insiders own 5.70% of the company’s stock.

Orion Group Stock Performance

Shares of ORN opened at $9.09 on Tuesday. The firm has a fifty day moving average of $12.66 and a 200-day moving average of $12.82. The company has a market cap of $368.26 million, a price-to-earnings ratio of 101.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.51 and a current ratio of 1.52. Orion Group Holdings, Inc. has a 1 year low of $6.88 and a 1 year high of $17.40.

Orion Group (NYSE:ORN) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). Orion Group had a net margin of 0.40% and a return on equity of 3.07%. The firm had revenue of $221.88 million during the quarter, compared to analyst estimates of $225.72 million. As a group, equities analysts anticipate that Orion Group Holdings, Inc. will post 0.12 earnings per share for the current year.

About Orion Group

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.