Insider Buying: Orion Group (NYSE:ORN) Director Buys 20,000 Shares of Stock

Orion Group Holdings, Inc. (NYSE:ORN) Director Robert Ledford bought 20,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $9.62 per share, with a total value of $192,400.00. Following the purchase, the director directly owned 43,112 shares of the company’s stock, valued at $414,737.44. The trade was a 86.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Orion Group Trading Up 2.3%

ORN traded up $0.23 during trading on Tuesday, reaching $10.22. 661,231 shares of the stock traded hands, compared to its average volume of 431,946. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $414.02 million, a PE ratio of 113.61 and a beta of 1.34. The stock’s 50-day moving average is $13.94 and its 200 day moving average is $13.04. Orion Group Holdings, Inc. has a 12 month low of $6.44 and a 12 month high of $17.40.

Orion Group (NYSE:ORN) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Orion Group had a return on equity of 3.07% and a net margin of 0.40%.The business had revenue of $221.88 million for the quarter, compared to analyst estimates of $225.72 million. Equities analysts anticipate that Orion Group Holdings, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ORN has been the subject of several recent analyst reports. Roth Capital set a $15.00 target price on Orion Group in a research note on Thursday, July 30th. Oppenheimer started coverage on Orion Group in a report on Tuesday, July 7th. They set an “outperform” rating and a $20.00 price target on the stock. Wall Street Zen downgraded shares of Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. lifted their price objective on shares of Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Weiss Ratings downgraded shares of Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Institutional Trading of Orion Group

Several large investors have recently made changes to their positions in ORN. Quarry LP bought a new stake in Orion Group in the 3rd quarter valued at about $33,000. Comerica Bank boosted its holdings in Orion Group by 219.7% in the third quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock worth $43,000 after acquiring an additional 3,562 shares in the last quarter. Fifth Third Bancorp bought a new position in Orion Group in the first quarter worth approximately $52,000. Susquehanna Fundamental Investments LLC acquired a new stake in Orion Group in the third quarter valued at approximately $86,000. Finally, Millennium Management LLC acquired a new stake in Orion Group in the third quarter valued at approximately $91,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.