CenterBook Partners LP raised its holdings in shares of Orion Group Holdings, Inc. (NYSE:ORN – Free Report) by 33.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 720,561 shares of the construction company’s stock after purchasing an additional 179,050 shares during the quarter. CenterBook Partners LP’s holdings in Orion Group were worth $7,162,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in Orion Group during the third quarter valued at about $33,000. Comerica Bank lifted its holdings in Orion Group by 219.7% during the third quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock valued at $43,000 after purchasing an additional 3,562 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Orion Group during the third quarter valued at about $86,000. Millennium Management LLC purchased a new stake in shares of Orion Group in the third quarter worth about $91,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Orion Group in the third quarter worth about $92,000. 70.25% of the stock is owned by hedge funds and other institutional investors.
Orion Group Trading Down 0.1%
Shares of Orion Group stock opened at $13.61 on Monday. Orion Group Holdings, Inc. has a 12-month low of $6.44 and a 12-month high of $15.85. The company has a market cap of $550.93 million, a price-to-earnings ratio of 64.81 and a beta of 1.37. The company has a current ratio of 1.41, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $13.04 and its 200-day moving average price is $11.97.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ORN. Zacks Research raised shares of Orion Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. B. Riley Financial increased their price target on shares of Orion Group from $15.50 to $17.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Weiss Ratings raised shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on shares of Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, Roth Mkm began coverage on shares of Orion Group in a report on Tuesday, February 10th. They issued a “buy” rating and a $17.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.00.
Insider Buying and Selling
In related news, Director Margaret M. Foran sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.62, for a total value of $292,400.00. Following the transaction, the director directly owned 137,541 shares in the company, valued at approximately $2,010,849.42. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Quentin P. Jr. Smith sold 10,695 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $12.25, for a total transaction of $131,013.75. Following the completion of the transaction, the director owned 90,659 shares in the company, valued at approximately $1,110,572.75. This trade represents a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 141,390 shares of company stock worth $1,832,825. Insiders own 5.70% of the company’s stock.
Orion Group Company Profile
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.
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