13GD Ownership Change: Privet Fund Management Llc Just Disclosed New Great Lakes Dredge & Dock Corp Position

13GD Ownership Change: Privet Fund Management Llc Just Disclosed New Great Lakes Dredge & Dock Corp Position

The New Privet Fund Management Llc Holding in Great Lakes Dredge & Dock Corp

Privet Fund Management Llc filed with the SEC SC 13D form for Great Lakes Dredge & Dock Corp. The form can be accessed here: 000092189516006215. As reported in Privet Fund Management Llc’s form, the filler as of late owns 5.2% or 3,168,925 shares of the Industrials–company.

Great Lakes Dredge & Dock Corp stake is a new one for the and it was filed because of activity on November 11, 2016. We feel this shows Privet Fund Management Llc’s positive view for the stock.

Reasons Why Privet Fund Management Llc Bought – Great Lakes Dredge & Dock Corp Stock

Purpose of Transaction

The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity.Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

The Reporting Persons have engaged, and intend to continue to engage, in discussions with the Issuer’s management and Board of Directors (the “Board”) regarding the Issuer’s corporate governance (including Board composition), operations, strategic plans and other means to enhance stockholder value. Specifically, the Reporting Persons believe that the Issuer would benefit from the addition of new, independent directors in the boardroom to serve as direct stockholder representatives.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein.The Reporting Persons intend to review their investment in the Issuer on a continuing basis.Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in additional communications with management and the Board of the Issuer, engaging in discussions with stockholders of the Issuer and others about the Issuer and the Reporting Persons’ investment, making proposals to the Issuer concerning changes to the capital allocation strategy, capitalization, ownership structure, board structure (including board composition) or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in Item 4.

Great Lakes Dredge & Dock Corp Institutional Sentiment

Latest Security and Exchange filings show 91 investors own Great Lakes Dredge & Dock Corp. The institutional ownership in Q3 2015 is high, at 93.39% of the outstanding shares. This is increased by 5193968 the total institutional shares. 56913081 were the shares owned by these institutional investors. In total 11 funds opened new Great Lakes Dredge & Dock Corp stakes, 33 increased stakes. There were 10 that closed positions and 33 reduced them.

2 managers had the stock in their top Ten. Notable investors are: Merion Investment Management Lp, Cooper Creek Partners Management Llc..

Marathon Capital Management is an institutional investor bullish on Great Lakes Dredge & Dock Corp, owning 360400 shares as of Q3 2015 for 0.92% of its portfolio. Minerva Advisors Llc owns 768477 shares or 2.75% of its portfolio. MA Rutabaga Capital Management Llc have 2.69% of their stock portfolio for 4332044 shares. Further, Golden Gate Private Equity Inc reported stake worth 0.32% of its US stock portfolio. The PA Merion Investment Management Lp owns 580937 shares. Great Lakes Dredge & Dock Corp is 100.00% of the manager’s US portfolio.

Business Profile

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. It holds interests in Amboy Aggregates, which is involved in mining sand from the entrance channel to New York Harbor for providing sand and aggregate for use in road and building construction and for clean land fill; Lower Main Street Development, LLC, which is engaged in land development and sale business, and TerraSea Environmental Solutions, which is engaged in the environmental services business.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Insitutional Activity: The institutional sentiment increased to 1.1 in 2016 Q2. Its up 0.04, from 1.06 in 2016Q1. The ratio increased, as 10 funds sold all Great Lakes Dredge & Dock Corporation shares owned while 24 reduced positions. 13 funds bought stakes while 23 increased positions. They now own 47.29 million shares or 3.63% less from 49.07 million shares in 2016Q1.

Raymond James Associate reported 174,977 shares or 0% of all its holdings. Vanguard Group Inc Inc reported 2.06M shares or 0% of all its holdings. Valley National Advisers has 0% invested in the company for 300 shares. Diam last reported 0.02% of its portfolio in the stock. Susquehanna Ltd Liability Partnership reported 34,923 shares or 0% of all its holdings. Manufacturers Life Insur The accumulated 0% or 42,358 shares. D E Shaw And has 0% invested in the company for 471,410 shares. Geode Capital Lc reported 393,775 shares or 0% of all its holdings. Walthausen Communications Limited Liability Company owns 2.30M shares or 1.04% of their US portfolio. Barclays Public Limited Company has 197 shares for 0% of their US portfolio. Blackrock Fund Advsrs has 1.54M shares for 0% of their US portfolio. Awm Inv Company holds 0.19% or 200,000 shares in its portfolio. Legal And General Public Limited Co accumulated 0% or 11,347 shares. Dimensional Fund Limited Partnership owns 5.14M shares or 0.01% of their US portfolio. Grt Capital Prns Lc holds 0.01% of its portfolio in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) for 10,500 shares.

Insider Transactions: Since August 9, 2016, the stock had 2 insider purchases, and 0 selling transactions for $166,078 net activity. $140,623 worth of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) was bought by Uhler Robert B on Tuesday, August 9.

The stock closed at $4.5 during the last session. It is down 5.46% since April 19, 2016 and is downtrending. It has underperformed by 9.32% the S&P500.

Great Lakes Dredge & Dock Corporation is a well-known provider of dredging services. The company has a market cap of $274.23 million. The Firm provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It currently has negative earnings. It operates in two divisions: 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.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Ratings Coverage

Out of 3 analysts covering Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. $6.50 is the highest target while $4 is the lowest. The $4.75 average target is 5.56% above today’s ($4.5) stock price. Great Lakes Dredge & Dock Corporation has been the topic of 5 analyst reports since October 19, 2015 according to StockzIntelligence Inc. As per Friday, March 18, the company rating was upgraded by Stephens. The firm earned “Neutral” rating on Friday, August 5 by DA Davidson. The stock of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) earned “Outperform” rating by Imperial Capital on Wednesday, November 4. Imperial Capital maintained it with “Outperform” rating and $5.50 target price in Wednesday, February 24 report.

More news for Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) were recently published by: Quotes.Wsj.com, which released: “News Great Lakes Dredge & Dock Corp.GLDD” on February 11, 2011. Moodys.com‘s article titled: “Moody’s changes Great Lakes Dredge & Dock’s outlook to stable from positive …” and published on November 24, 2015 is yet another important article.

According to Zacks Investment Research, “GREAT LAKES DREDGE & DOCK CORPORATION is the largest provider of dredging services in the US conducting business to maintain and deepen shipping channels, reclaim land from the ocean, and renourish storm damaged coastline. The company also conducts around 25% of its operations internationally with a strong focus in the Middle East. Projects can generally be recognized to fall within a number of categories, namely, Maintenance projects to keep shipping channels and harbors at their required depths, Capital works to excavate, deepen or widen navigable waterways, Beach restoration for storm damaged coastline and Reclamation works to restore wetlands or create new land in the ocean.”

GLDD Company Profile

Great Lakes Dredge & Dock Corporation (Great Lakes), incorporated on August 07, 2006, is a well-known 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 Firm operates in two divisions: 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. The Firm holds interests in Amboy Aggregates (Amboy), which is involved in mining sand from the entrance channel to New York Harbor for providing sand and aggregate for use in road and building construction, and for clean land fill; Lower Main Street Development, LLC (Lower Main), which is engaged in land development and sale business, and TerraSea Environmental Solutions (TerraSea), which is engaged in the environmental services business.

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