Formula Growth Ltd. Increases Stake in Orion Group Holdings, Inc. (NYSE:ORN)

Formula Growth Ltd. raised its holdings in Orion Group Holdings, Inc. (NYSE:ORN) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 662,000 shares of the construction company’s stock after buying an additional 56,000 shares during the period. Orion Group makes up approximately 1.6% of Formula Growth Ltd.’s portfolio, making the stock its 13th largest position. Formula Growth Ltd. owned 1.70% of Orion Group worth $4,852,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Heck Capital Advisors LLC acquired a new position in Orion Group during the 4th quarter worth $49,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Orion Group by 1,936.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,428 shares of the construction company’s stock worth $69,000 after buying an additional 8,965 shares in the last quarter. Perritt Capital Management Inc purchased a new stake in shares of Orion Group during the fourth quarter worth approximately $73,000. Aigen Investment Management LP acquired a new stake in Orion Group in the fourth quarter valued at approximately $80,000. Finally, Raymond James Financial Inc. purchased a new position in Orion Group in the fourth quarter worth approximately $88,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ORN has been the topic of a number of analyst reports. StockNews.com upgraded shares of Orion Group from a “hold” rating to a “buy” rating in a report on Friday. B. Riley upgraded Orion Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, DA Davidson started coverage on Orion Group in a research report on Friday, January 17th. They set a “buy” rating and a $11.00 price objective for the company.

Orion Group Stock Up 1.6 %

Shares of NYSE:ORN opened at $5.97 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.33 and a debt-to-equity ratio of 0.24. The firm has a 50 day simple moving average of $6.12 and a 200-day simple moving average of $6.98. The company has a market capitalization of $231.65 million, a PE ratio of -14.91, a P/E/G ratio of 1.10 and a beta of 0.81. Orion Group Holdings, Inc. has a twelve month low of $4.64 and a twelve month high of $12.12.

Orion Group (NYSE:ORN) last released its quarterly earnings data on Tuesday, March 4th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Orion Group had a negative net margin of 1.63% and a negative return on equity of 0.71%. The company had revenue of $216.88 million during the quarter, compared to the consensus estimate of $271.70 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. On average, equities analysts predict that Orion Group Holdings, Inc. will post 0.06 EPS for the current fiscal year.

Orion Group Profile

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.