Sawtooth Solutions LLC Acquires Shares of 26,585 Gulf Island Fabrication, Inc. (NASDAQ:GIFI)
Sawtooth Solutions LLC acquired a new stake in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 26,585 shares of the oil and gas company’s stock, valued at approximately $244,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIFI. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Gulf Island Fabrication during the fourth quarter worth about $28,000. Investors Research Corp purchased a new stake in shares of Gulf Island Fabrication during the first quarter worth about $29,000. Deutsche Bank AG increased its stake in shares of Gulf Island Fabrication by 2,282.8% during the fourth quarter. Deutsche Bank AG now owns 4,146 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 3,972 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Gulf Island Fabrication during the fourth quarter worth about $38,000. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of Gulf Island Fabrication during the fourth quarter worth about $59,000. 66.67% of the stock is owned by institutional investors.
Several brokerages recently issued reports on GIFI. ValuEngine raised shares of Gulf Island Fabrication from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. TheStreet raised shares of Gulf Island Fabrication from a “d” rating to a “c” rating in a research note on Friday, March 1st.
Gulf Island Fabrication (NASDAQ:GIFI) last announced its quarterly earnings data on Monday, May 6th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). Gulf Island Fabrication had a negative net margin of 7.83% and a negative return on equity of 8.85%. The company had revenue of $67.61 million during the quarter.
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About Gulf Island Fabrication
Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures, modules, and marine vessels in the United States. It operates through in segments: Fabrication, Shipyard, Services, and EPC. The Fabrication segment fabricates modules for petrochemical and industrial facilities, foundations for alternative energy developments, and other steel structures.
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