Raymond James Financial Services Advisors Inc. purchased a new position in shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 75,153 shares of the oil and gas company’s stock, valued at approximately $689,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Gulf Island Fabrication by 7.0% in the 3rd quarter. Vanguard Group Inc. now owns 788,789 shares of the oil and gas company’s stock valued at $7,849,000 after acquiring an additional 51,282 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Gulf Island Fabrication by 6.1% in the fourth quarter. Arizona State Retirement System now owns 21,137 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 1,221 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Gulf Island Fabrication in the fourth quarter worth about $38,000. BlackRock Inc. grew its stake in shares of Gulf Island Fabrication by 3.1% in the fourth quarter. BlackRock Inc. now owns 1,394,159 shares of the oil and gas company’s stock worth $10,065,000 after purchasing an additional 42,466 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of Gulf Island Fabrication in the fourth quarter worth about $59,000. Institutional investors own 66.67% of the company’s stock.
NASDAQ GIFI traded down $0.14 during mid-day trading on Wednesday, reaching $7.52. The stock had a trading volume of 873 shares, compared to its average volume of 31,284. Gulf Island Fabrication, Inc. has a 1 year low of $6.85 and a 1 year high of $11.05.
Several research firms have weighed in on GIFI. TheStreet raised Gulf Island Fabrication from a “d” rating to a “c” rating in a research report on Friday, March 1st. ValuEngine upgraded shares of Gulf Island Fabrication from a “sell” rating to a “hold” rating in a report on Thursday, February 28th.
Gulf Island Fabrication Company Profile
Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures, modules, and marine vessels in the United States. It operates through in segments: Fabrication, Shipyard, Services, and EPC. The Fabrication segment fabricates modules for petrochemical and industrial facilities, foundations for alternative energy developments, and other steel structures.
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