Orion Group (NYSE:ORN) Announces Earnings Results

Orion Group (NYSE:ORN) released its quarterly earnings results on Wednesday. The construction company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06, reports. Orion Group had a negative return on equity of 4.14% and a negative net margin of 1.59%. The firm had revenue of $160.67 million during the quarter, compared to the consensus estimate of $174.75 million.

Orion Group Stock Up 1.1 %

Shares of NYSE ORN traded up $0.08 during trading hours on Friday, hitting $7.42. The company had a trading volume of 336,102 shares, compared to its average volume of 382,794. The company has a current ratio of 1.33, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36. Orion Group has a 1-year low of $2.35 and a 1-year high of $9.84. The firm’s 50 day moving average is $7.88 and its 200-day moving average is $6.06.

Analysts Set New Price Targets

ORN has been the subject of a number of recent research reports. StockNews.com downgraded Orion Group from a “buy” rating to a “hold” rating in a research report on Friday. B. Riley reaffirmed a “buy” rating and set a $9.50 price target (up previously from $6.25) on shares of Orion Group in a research report on Thursday, March 14th.

Insider Activity

In other Orion Group news, CEO Travis J. Boone purchased 12,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $7.01 per share, for a total transaction of $84,120.00. Following the purchase, the chief executive officer now owns 402,557 shares in the company, valued at $2,821,924.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Orion Group news, EVP Edward Chipman Earle purchased 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $6.88 per share, for a total transaction of $55,040.00. Following the purchase, the executive vice president now owns 69,602 shares in the company, valued at $478,861.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Travis J. Boone acquired 12,000 shares of the stock in a transaction on Monday, March 4th. The shares were purchased at an average price of $7.01 per share, for a total transaction of $84,120.00. Following the transaction, the chief executive officer now directly owns 402,557 shares in the company, valued at $2,821,924.57. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 22,430 shares of company stock valued at $156,340. 7.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ORN. GDS Wealth Management bought a new position in Orion Group during the 3rd quarter worth $254,000. Belvedere Trading LLC bought a new position in Orion Group during the 3rd quarter worth $112,000. Acuitas Investments LLC acquired a new stake in shares of Orion Group during the 3rd quarter worth $1,864,000. Assenagon Asset Management S.A. acquired a new stake in shares of Orion Group during the 3rd quarter worth $125,000. Finally, AMH Equity Ltd grew its holdings in shares of Orion Group by 518.8% during the 3rd quarter. AMH Equity Ltd now owns 1,856,399 shares of the construction company’s stock worth $9,950,000 after purchasing an additional 1,556,399 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

About Orion Group

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company provides marine construction services, including construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.