This Insider Has Just Sold Shares In Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

By
Simply Wall St
Published
June 16, 2021
NasdaqGS:GLDD

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.

See our latest analysis for Great Lakes Dredge & Dock

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!

insider-trading-volume
NasdaqGS:GLDD Insider Trading Volume June 17th 2021

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.

Insider Ownership

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.

Promoted
If you decide to trade Great Lakes Dredge & Dock, use the lowest-cost* platform that is rated #1 Overall by Barron’s, Interactive Brokers. Trade stocks, options, futures, forex, bonds and funds on 135 markets, all from a single integrated account.


This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
*Interactive Brokers Rated Lowest Cost Broker by StockBrokers.com Annual Online Review 2020


Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

Discounted cash flow calculation for every stock

Simply Wall St does a detailed discounted cash flow calculation every 6 hours for every stock on the market, so if you want to find the intrinsic value of any company just search here. It’s FREE.


Simply Wall St character - Warren

Simply Wall St

Simply Wall St is a financial technology startup focused on providing unbiased, high-quality research coverage on every listed company in the world. Our research team consists of equity analysts with a public, market-beating track record.