Wasatch Advisors LP Grows Stake in Orion Group Holdings, Inc. $ORN

Wasatch Advisors LP boosted its stake in shares of Orion Group Holdings, Inc. (NYSE:ORN) by 21.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,014,110 shares of the construction company’s stock after purchasing an additional 357,276 shares during the period. Wasatch Advisors LP’s holdings in Orion Group were worth $33,877,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in shares of Orion Group by 64.2% in the 1st quarter. AQR Capital Management LLC now owns 480,451 shares of the construction company’s stock valued at $2,513,000 after purchasing an additional 187,819 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Orion Group by 55.7% during the 1st quarter. NewEdge Advisors LLC now owns 25,001 shares of the construction company’s stock valued at $131,000 after purchasing an additional 8,945 shares during the last quarter. Empowered Funds LLC increased its position in shares of Orion Group by 1.9% during the 1st quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock valued at $626,000 after purchasing an additional 2,220 shares during the last quarter. Strs Ohio purchased a new stake in Orion Group during the 1st quarter valued at $175,000. Finally, Creative Planning bought a new stake in Orion Group in the second quarter worth $202,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mary E. Sullivan acquired 3,000 shares of the stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $9.79 per share, with a total value of $29,370.00. Following the transaction, the director directly owned 277,904 shares in the company, valued at approximately $2,720,680.16. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Ledford bought 20,000 shares of the company’s stock in a transaction on Friday, July 31st. The stock was bought at an average price of $9.62 per share, for a total transaction of $192,400.00. Following the completion of the purchase, the director directly owned 43,112 shares in the company, valued at approximately $414,737.44. This represents a 86.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 28,000 shares of company stock valued at $270,820 in the last 90 days. Company insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Oppenheimer started coverage on shares of Orion Group in a research note on Tuesday, July 7th. They set an “outperform” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. raised their target price 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. Roth Capital set a $15.00 price target on shares of Orion Group in a report on Thursday, July 30th. Weiss Ratings lowered shares of Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Finally, Zacks Research downgraded shares of Orion Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, Orion Group has an average rating of “Hold” and a consensus price target of $17.20.

Orion Group Stock Performance

ORN stock opened at $9.78 on Wednesday. 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 business’s fifty day simple moving average is $13.46 and its two-hundred day simple moving average is $13.01. Orion Group Holdings, Inc. has a twelve month low of $6.44 and a twelve month high of $17.40. The firm has a market cap of $396.07 million, a price-to-earnings ratio of 108.70 and a beta of 1.40.

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

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.