Gulf Island Fabrication (GIFI) Cut to Sell at ValuEngine

Gulf Island Fabrication (NASDAQ:GIFI) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, February 4th.

Gulf Island Fabrication stock traded down $0.36 during midday trading on Monday, hitting $9.44. The company’s stock had a trading volume of 32,008 shares, compared to its average volume of 28,410. Gulf Island Fabrication has a 1-year low of $6.85 and a 1-year high of $11.60.

In other Gulf Island Fabrication news, Director John Peter Laborde sold 7,796 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $8.04, for a total value of $62,679.84. Following the transaction, the director now directly owns 33,708 shares of the company’s stock, valued at approximately $271,012.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.50% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan bought a new position in Gulf Island Fabrication in the 4th quarter valued at about $28,000. Oregon Public Employees Retirement Fund bought a new position in Gulf Island Fabrication in the 4th quarter valued at about $38,000. Brandywine Global Investment Management LLC bought a new position in Gulf Island Fabrication in the 4th quarter valued at about $59,000. Arizona State Retirement System increased its holdings in Gulf Island Fabrication by 6.1% in the 4th quarter. Arizona State Retirement System now owns 21,137 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 1,221 shares during the period. Finally, Legal & General Group Plc increased its holdings in Gulf Island Fabrication by 12.4% in the 3rd quarter. Legal & General Group Plc now owns 27,221 shares of the oil and gas company’s stock valued at $269,000 after buying an additional 2,999 shares during the period. 69.18% of the stock is currently owned by hedge funds and other institutional investors.

Gulf Island Fabrication Company Profile

Gulf Island Fabrication, Inc, through its subsidiaries, operates as a fabricator of offshore drilling and production platforms, and other steel structures in the United States. The company fabricates jackets and deck sections of fixed production platforms; hull, tendon, and/or deck sections of floating production platforms, such as tension leg platforms, single point anchor reservoirs, floating production storage and offloading vessels, and minimum deepwater operating concepts; pressure vessels; and piles, wellhead protectors, and subsea templates, as well as various production, compressor, and utility modules.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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