Acuitas Investments LLC Decreases Position in Gulf Island Fabrication, Inc. (NASDAQ:GIFI)

Acuitas Investments LLC decreased its position in shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) by 50.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,861 shares of the oil and gas company’s stock after selling 119,228 shares during the quarter. Acuitas Investments LLC owned 0.71% of Gulf Island Fabrication worth $703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ritholtz Wealth Management purchased a new stake in Gulf Island Fabrication during the 2nd quarter valued at $161,000. Robotti Robert purchased a new stake in shares of Gulf Island Fabrication during the first quarter valued at $74,000. Hillsdale Investment Management Inc. bought a new stake in Gulf Island Fabrication in the 1st quarter worth about $198,000. Vanguard Group Inc. raised its position in Gulf Island Fabrication by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 603,774 shares of the oil and gas company’s stock worth $4,438,000 after buying an additional 24,699 shares during the last quarter. Finally, Abel Hall LLC bought a new position in Gulf Island Fabrication during the 4th quarter valued at about $449,000. Institutional investors own 46.40% of the company’s stock.

Gulf Island Fabrication Price Performance

NASDAQ GIFI opened at $5.54 on Friday. The stock has a market capitalization of $90.21 million, a price-to-earnings ratio of -4.74 and a beta of 0.47. Gulf Island Fabrication, Inc. has a 1-year low of $3.13 and a 1-year high of $7.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.89 and a quick ratio of 3.80. The business’s fifty day moving average price is $6.01 and its 200-day moving average price is $6.33.

Gulf Island Fabrication (NASDAQ:GIFI) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $41.26 million during the quarter. Gulf Island Fabrication had a negative net margin of 13.47% and a negative return on equity of 22.34%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Gulf Island Fabrication from a “buy” rating to a “hold” rating in a report on Thursday, May 9th.

Gulf Island Fabrication Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.