Ritholtz Wealth Management Takes $161,000 Position in Gulf Island Fabrication, Inc. (NASDAQ:GIFI)

Ritholtz Wealth Management acquired a new stake in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,597 shares of the oil and gas company’s stock, valued at approximately $161,000. Ritholtz Wealth Management owned about 0.16% of Gulf Island Fabrication at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Robotti Robert purchased a new position in shares of Gulf Island Fabrication during the 1st quarter worth approximately $74,000. Vanguard Group Inc. grew its holdings in Gulf Island Fabrication by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 603,774 shares of the oil and gas company’s stock valued at $4,438,000 after buying an additional 24,699 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Gulf Island Fabrication during the first quarter worth $198,000. Finally, Abel Hall LLC acquired a new position in shares of Gulf Island Fabrication in the fourth quarter worth $449,000. 46.40% of the stock is currently owned by hedge funds and other institutional investors.

Gulf Island Fabrication Stock Down 1.3 %

GIFI opened at $5.47 on Friday. The firm has a market cap of $89.07 million, a P/E ratio of -4.68 and a beta of 0.47. The business’s fifty day simple moving average is $6.00 and its 200 day simple moving average is $6.34. Gulf Island Fabrication, Inc. has a 52 week low of $3.13 and a 52 week high of $7.93. The company has a quick ratio of 3.80, a current ratio of 3.89 and a debt-to-equity ratio of 0.22.

Gulf Island Fabrication (NASDAQ:GIFI) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $41.26 million for the quarter. Gulf Island Fabrication had a negative return on equity of 22.34% and a negative net margin of 13.47%.

Gulf Island Fabrication Company Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.