JB Capital Partners LP Invests $2.19 Billion in Orion Group Holdings, Inc. $ORN

JB Capital Partners LP acquired a new stake in Orion Group Holdings, Inc. (NYSE:ORN) in the 2nd quarter, HoldingsChannel reports. The fund acquired 130,000 shares of the construction company’s stock, valued at approximately $2,186,600,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP lifted its stake in Orion Group by 21.6% in the second quarter. Wasatch Advisors LP now owns 2,014,110 shares of the construction company’s stock valued at $33,877,000 after acquiring an additional 357,276 shares during the last quarter. Simcoe Capital LLC acquired a new position in shares of Orion Group during the 4th quarter worth about $4,509,000. CenterBook Partners LP increased its stake in shares of Orion Group by 33.1% during the 4th quarter. CenterBook Partners LP now owns 720,561 shares of the construction company’s stock worth $7,162,000 after purchasing an additional 179,050 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Orion Group by 102.8% in the 1st quarter. Sei Investments Co. now owns 386,663 shares of the construction company’s stock valued at $4,215,000 after purchasing an additional 196,041 shares during the period. Finally, Globeflex Capital L P raised its holdings in shares of Orion Group by 481.0% in the 1st quarter. Globeflex Capital L P now owns 71,310 shares of the construction company’s stock valued at $777,000 after purchasing an additional 59,036 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mary E. Sullivan purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $9.79 per share, with a total value of $29,370.00. Following the acquisition, the director owned 277,904 shares in the company, valued at approximately $2,720,680.16. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Ledford purchased 20,000 shares of the company’s 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 completion of the acquisition, the director owned 43,112 shares in the company, valued at $414,737.44. The trade was a 86.54% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 28,000 shares of company stock valued at $270,820. 5.70% of the stock is owned by insiders.

Orion Group Stock Performance

Shares of ORN stock opened at $9.26 on Friday. Orion Group Holdings, Inc. has a 52 week low of $6.60 and a 52 week high of $17.40. The company has a market capitalization of $374.98 million, a price-to-earnings ratio of 102.90 and a beta of 1.40. The company has a 50-day simple moving average of $12.78 and a 200 day simple moving average of $12.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.51 and a current ratio of 1.52.

Orion Group (NYSE:ORN) last released its quarterly 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 the consensus estimate of $225.72 million. Orion Group had a net margin of 0.40% and a return on equity of 3.07%. On average, sell-side analysts predict that Orion Group Holdings, Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ORN. Oppenheimer began coverage on shares of Orion Group in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $20.00 target price for the company. Roth Capital set a $15.00 price objective on Orion Group in a research note on Thursday, July 30th. Zacks Research lowered Orion Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Wall Street Zen cut Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings downgraded Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.20.

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.