In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Gulf Island Fabrication Inc. (NASDAQ:GIFI) reported that Heartland Advisors Inc. has picked up 597,991 of common stock as of 2017-05-08.
The acquisition brings the aggregate amount owned by Heartland Advisors Inc. to a total of 597,991 representing less than 4.0% stake in the company.
For those not familiar with the company, Gulf Island Fabrication, Inc. (Gulf Island) is a holding company. The Company, along with its subsidiaries, is a fabricator of steel platforms and other specialized structures for customers in the offshore oil and gas industry. It also performs onshore and offshore construction and fabrication services for customers in the marine industry. Its primary activity is the fabrication of offshore drilling and production platforms and other steel structures for customers in the oil and gas and marine industries, including jackets and deck sections of fixed production platforms, hull, tendon, and/or deck sections of floating production platforms, piles, wellhead protectors. It conducts its operations through its subsidiaries, which include Gulf Island, L.L.C.; Gulf Marine Fabricators, L.P.; Gulf Island Marine Fabricators, L.L.C.; Gulf Island Shipyards, L.L.C.; Dolphin Services, L.L.C.; and Dolphin Steel Sales, L.L.C.
A glance at Gulf Island Fabrication Inc. (NASDAQ:GIFI)’s key stats reveals a current market capitalization of 144.02 Million based on 14.85 Million shares outstanding and a price at last close of $9.80 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-03-28, Burns picked up 1,000 at a purchase price of $7.80. This brings their total holding to 4,300 as of the date of the filing.
On the sell side, the most recent transaction saw Dumas unload 900 shares at a sale price of $8.61. This brings their total holding to 3,055.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Gulf Island Fabrication Inc. (NASDAQ:GIFI) as things move forward to see if its progress aligns with these transactions.
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