In a recent transaction, G. Scott Thanisch, the Executive Vice President and Chief Financial Officer of Orion Group Holdings Inc (NYSE:ORN), expanded his stake in the company. On April 30, Thanisch purchased 4,000 shares of common stock at a price of $7.12 per share, amounting to a total investment of $28,480.
This acquisition is a display of confidence by Thanisch in the future of Orion Group Holdings, a company that specializes in heavy construction services related to marine infrastructure projects. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides transparency into the trading activities of the company's insiders.
Following this purchase, Thanisch's ownership in the company has increased to a total of 167,811 shares of common stock. This move by a high-ranking executive may be seen by investors as a positive signal about the company's prospects.
Orion Group Holdings, known previously as Orion Marine Group Inc , operates within the heavy construction industry, focusing on projects that are not building construction but rather other types of heavy-duty work. The company's corporate headquarters are located in Houston, Texas.
Investors often monitor the buying and selling activities of company insiders as these can provide insights into the company's health and the management's expectations. The recent purchase by Thanisch may be of particular interest to current and potential shareholders as they assess their investment in Orion Group Holdings.
InvestingPro Insights
As Orion Group Holdings Inc (NYSE:ORN) makes headlines with insider trading activity, the company's financial health and future outlook come under scrutiny. According to InvestingPro data, Orion's market capitalization stands at a modest $233.6 million. Despite facing challenges such as weak gross profit margins, currently at 10.0%, and a slight revenue decline of -2.63% over the last twelve months as of Q1 2024, there are positive signs on the horizon. Notably, the company's stock has experienced a significant uptick, with a 190.34% return over the last year and a 43.96% increase over the last six months.
An InvestingPro Tip suggests that analysts are optimistic about Orion's potential, expecting net income and sales growth in the current year. This could be a contributing factor to the confidence displayed by Executive Vice President and Chief Financial Officer G. Scott Thanisch in his recent stock purchase. Additionally, while Orion does not pay a dividend, the company has shown strong returns over various periods, including a 22.08% return over the last three months, which may appeal to growth-focused investors.
Investors contemplating Orion Group Holdings as part of their portfolio can access a wealth of additional insights with a subscription to InvestingPro. Currently, there are over 10 more InvestingPro Tips available for ORN, which can be found at InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more comprehensive understanding of the company's financial nuances and market position.
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