Orion Group Holdings Inc (NYSE:ORN) director Quentin Smith Jr. has purchased additional shares of the company, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on May 2, 2024, involved Smith acquiring 1,400 shares of common stock at a price of $7.45 per share, totaling $10,430.
This purchase increases Smith's direct ownership in Orion Group Holdings to 78,678 shares. The acquisition signals a vote of confidence by the director in the company's future prospects. Orion Group Holdings, known for its work in heavy construction other than building construction contractors, is a player in the real estate and construction sector.
Investors often monitor insider transactions such as these for insights into the sentiment of high-level executives and directors about the company's performance and stock value. The purchase by Smith is a straightforward equity transaction, with no derivative securities involved.
The stock purchase by Smith comes at a time when insider trading activity is closely watched by the market for indications of a company's internal perspective. While the motivations behind any insider's stock transactions can vary, they are frequently interpreted as a sign of the insider's belief in the company's success.
Orion Group Holdings has not issued any official statement regarding the transaction, and the filing does not include any additional footnotes or explanations that might provide further context. The transaction was signed off by E. Chipman Earle, Attorney-in-Fact, on behalf of Quentin Smith Jr.
InvestingPro Insights
Orion Group Holdings Inc (NYSE:ORN) has recently seen noteworthy insider activity, with director Quentin Smith Jr. increasing his stake in the company. This move aligns with several key metrics and projections that may interest investors keeping an eye on ORN.
InvestingPro data highlights that Orion Group Holdings has a market capitalization of $249.05 million, reflecting its size and influence within the construction sector. While the company's P/E ratio stands at -22.01, indicating that it may not be profitable at the moment, the adjusted P/E ratio for the last twelve months as of Q1 2024 has improved slightly to -20.06.
Despite a slight dip in revenue growth of -2.63% over the last twelve months as of Q1 2024, the company has experienced a quarterly revenue growth of 0.94% in Q1 2024. This could suggest a turnaround or stabilization in the company's revenue streams. Additionally, the gross profit margin currently stands at 10.0%, which, while not robust, indicates that the company is maintaining profitability on its core operations.
InvestingPro Tips for Orion Group Holdings suggest mixed signals. On the one hand, the company may face challenges with its gross profit margins and has fared poorly in the stock market over the last month with a -19.04% return. On the other hand, analysts are optimistic, expecting net income and sales growth in the current year. Moreover, the company has had a strong return over the last year with an impressive 192.49% increase, indicating significant investor confidence over a longer-term horizon.
Investors considering Orion Group Holdings can find additional insights and tips on InvestingPro, with more detailed analyses and metrics to inform their investment decisions. For those looking to delve deeper, using the coupon code PRONEWS24 provides an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a comprehensive suite of tools for the savvy investor. In total, there are 12 additional InvestingPro Tips available for ORN, which can be accessed for further guidance on the company's financial health and stock performance.
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