Wasatch Advisors LP Lowers Stock Holdings in Orion Group Holdings, Inc. $ORN

Wasatch Advisors LP reduced its position in Orion Group Holdings, Inc. (NYSE:ORN) by 26.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,656,834 shares of the construction company’s stock after selling 610,873 shares during the quarter. Wasatch Advisors LP’s holdings in Orion Group were worth $18,059,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ORN. Invesco Ltd. lifted its stake in Orion Group by 1.6% in the 4th quarter. Invesco Ltd. now owns 1,292,193 shares of the construction company’s stock worth $12,844,000 after purchasing an additional 20,835 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its position in shares of Orion Group by 105.0% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 21,097 shares of the construction company’s stock valued at $210,000 after purchasing an additional 10,808 shares in the last quarter. Millennium Management LLC grew its position in shares of Orion Group by 790.5% during the 4th quarter. Millennium Management LLC now owns 97,758 shares of the construction company’s stock valued at $972,000 after purchasing an additional 86,780 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Orion Group in the fourth quarter worth $168,000. Finally, Ardsley Advisory Partners LP increased its holdings in shares of Orion Group by 6.7% in the fourth quarter. Ardsley Advisory Partners LP now owns 400,000 shares of the construction company’s stock worth $3,976,000 after purchasing an additional 25,000 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Ratings Changes

ORN has been the subject of several research analyst reports. B. Riley Financial lifted their price objective on Orion Group from $15.50 to $17.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Wall Street Zen raised Orion Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research upgraded Orion Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. boosted their price objective on Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $17.00.

Orion Group Stock Performance

NYSE ORN opened at $16.33 on Friday. Orion Group Holdings, Inc. has a 52-week low of $6.44 and a 52-week high of $16.57. The company has a fifty day moving average of $14.17 and a 200-day moving average of $12.52. The company has a market capitalization of $661.20 million, a P/E ratio of 77.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.40 and a current ratio of 1.41.

Orion Group (NYSE:ORN) last released its earnings results on Wednesday, April 29th. The construction company reported $0.05 EPS for the quarter. Orion Group had a return on equity of 4.44% and a net margin of 0.98%.The business had revenue of $216.30 million for the quarter, compared to analysts’ expectations of $198.12 million. As a group, equities research analysts predict that Orion Group Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at Orion Group

In other news, Director Margaret M. Foran sold 20,000 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $14.62, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 40,695 shares of company stock worth $606,512. 5.70% of the stock is currently owned by corporate insiders.

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.