Anyone interested in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) should probably be aware that the Chief Operating Officer, David Simonelli, recently divested US$126k worth of shares in the company, at an average price of US$14.47 each. On the bright side, that sale was only 3.5% of their holding, so we doubt it's very meaningful, on its own.
Great Lakes Dredge & Dock Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider sale was by the Independent Director, Ryan Levenson, for US$416k worth of shares, at about US$11.63 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$14.57. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. We note that the biggest single sale was 100% of Ryan Levenson's holding.
Great Lakes Dredge & Dock insiders didn't buy any shares over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
I will like Great Lakes Dredge & Dock better if I see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Great Lakes Dredge & Dock insiders own about US$22m worth of shares. That equates to 2.3% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
What Might The Insider Transactions At Great Lakes Dredge & Dock Tell Us?
An insider sold Great Lakes Dredge & Dock shares recently, but they didn't buy any. And there weren't any purchases to give us comfort, over the last year. Insiders own shares, but we're still pretty cautious, given the history of sales. We're in no rush to buy! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. At Simply Wall St, we've found that Great Lakes Dredge & Dock has 2 warning signs (1 is concerning!) that deserve your attention before going any further with your analysis.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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