In a recent move that caught the attention of market watchers, Austin J. Shanfelter, a director at Orion Group Holdings Inc (NYSE:ORN), partook in significant trading activity involving the company’s stock. Shanfelter completed a sale of 40,000 shares at prices that varied between $8.83 and $9.29, resulting in a total transaction value of over $360,216.
The transactions, which were executed on May 20, 2024, were disclosed in a filing with the Securities and Exchange Commission. The weighted average price for the shares sold by Shanfelter was $9.0054. This sale has adjusted Shanfelter's directly held stake in the company to 437,734 shares, as reported in the post-transaction details.
Earlier that same week, on May 16, Shanfelter acquired 10,695 shares of Orion Group Holdings at a price of $9.35 per share. This purchase added nearly $100,000 worth of stock to Shanfelter's holdings, reinforcing his stake in the company prior to the sale that followed.
The transactions involved are part of the normal course of trading activities by company insiders and are publicly reported for transparency and regulatory compliance. Orion Group Holdings Inc, with its headquarters in Houston, Texas, operates in the heavy construction sector, specializing in marine construction services and solutions.
Investors and analysts often monitor insider trading patterns to gain insights into a company’s performance and the confidence level of its executives and directors. However, such transactions are not necessarily indicative of future price movements and should be evaluated within the broader context of market conditions and company performance.
The detailed breakdown of the transactions, including the range of prices at which the shares were sold, is available to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission upon request, as stated in the footnotes of the filing. Austin J. Shanfelter's recent trading activity provides a glimpse into the insider dealings at Orion Group Holdings, offering investors a piece of the broader picture of the company's stock movements.
InvestingPro Insights
In the landscape of Orion Group Holdings Inc's recent insider trading activities, the InvestingPro platform offers additional context with real-time data and analysis. As of the latest metrics, Orion Group Holdings Inc holds a market capitalization of $286.5 million, reflecting its valuation in the current market environment. Despite the company's challenges, including concerns about its ability to manage debt interest payments, the InvestingPro Tips indicate an expected net income growth this year. Analysts also anticipate sales growth in the current year, which could signal a potential turnaround for the company's financial health.
Moreover, the company's stock has experienced a significant return over the past year, with a 230.04% increase. This aligns with the InvestingPro Tip highlighting a high return over the last year, suggesting strong investor confidence or market momentum. The recent price performance includes a notable 40.0% return over the last three months and a 9.87% increase over the past month.
However, the InvestingPro Data reveals a negative P/E ratio of -25.39, with an adjusted figure for the last twelve months as of Q1 2024 at -22.88, indicating that the company has not been profitable over this period. The gross profit margin stands at 10.0%, which may reflect some of the concerns about the company's weak gross profit margins as mentioned in the InvestingPro Tips.
For investors seeking more comprehensive insights, InvestingPro offers additional tips, including analysis on sales growth, profitability projections, and return metrics. There are currently 12 more InvestingPro Tips available for Orion Group Holdings Inc, which can be accessed through the platform for those looking to delve deeper into the company's financial prospects. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their investment research with valuable data and expert analysis.
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