Globeflex Capital L P Makes New $1.20 Million Investment in Orion Group Holdings, Inc. $ORN

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ORN. Quarry LP acquired a new position in Orion Group in the 3rd quarter valued at $33,000. Fifth Third Bancorp acquired a new position in Orion Group during the 1st quarter worth $52,000. Comerica Bank lifted its position in Orion Group by 219.7% during the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock worth $43,000 after acquiring an additional 3,562 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Orion Group during the second quarter valued at about $107,000. Finally, OpenArc Corporate Advisory LLC acquired a new stake in shares of Orion Group in the fourth quarter valued at about $100,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ORN. JPMorgan Chase & Co. raised their target price on Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Oppenheimer initiated coverage on shares of Orion Group in a research report on Tuesday, July 7th. They set an “outperform” rating and a $20.00 price objective for the company. Wall Street Zen cut Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings cut shares of Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Finally, Zacks Research cut Orion Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.20.

Insider Activity

In related news, Director Robert Ledford purchased 20,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $9.62 per share, with a total value of $192,400.00. Following the completion of the purchase, the director owned 43,112 shares in the company, valued at $414,737.44. This represents a 86.54% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Edward Chipman Earle bought 5,000 shares of Orion Group stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $9.81 per share, with a total value of $49,050.00. Following the completion of the purchase, the executive vice president owned 150,042 shares in the company, valued at approximately $1,471,912.02. This trade represents a 3.45% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 28,000 shares of company stock worth $270,820 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Orion Group Stock Down 1.9%

Shares of NYSE ORN opened at $9.09 on Tuesday. The firm has a market capitalization of $368.26 million, a PE ratio of 101.06 and a beta of 1.40. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.62. Orion Group Holdings, Inc. has a 1 year low of $6.88 and a 1 year high of $17.40. The firm’s 50-day moving average is $12.66 and its 200-day moving average is $12.82.

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

Orion Group 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.