Renaissance Technologies LLC Sells 19,326 Shares of Gulf Island Fabrication, Inc. (NASDAQ:GIFI)

Renaissance Technologies LLC lowered its stake in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 565,718 shares of the oil and gas company’s stock after selling 19,326 shares during the period. Renaissance Technologies LLC owned 3.46% of Gulf Island Fabrication worth $3,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GIFI. Perritt Capital Management Inc raised its position in shares of Gulf Island Fabrication by 25.0% during the 4th quarter. Perritt Capital Management Inc now owns 25,000 shares of the oil and gas company’s stock valued at $170,000 after acquiring an additional 5,000 shares during the last quarter. Empowered Funds LLC acquired a new position in Gulf Island Fabrication in the 4th quarter worth $180,000. Hillsdale Investment Management Inc. boosted its position in shares of Gulf Island Fabrication by 5.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 39,900 shares of the oil and gas company’s stock worth $272,000 after buying an additional 2,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Gulf Island Fabrication by 14.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,594 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 6,187 shares in the last quarter. Finally, Heron Bay Capital Management boosted its stake in shares of Gulf Island Fabrication by 29.1% during the 4th quarter. Heron Bay Capital Management now owns 51,863 shares of the oil and gas company’s stock worth $353,000 after buying an additional 11,678 shares during the last quarter. 46.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Gulf Island Fabrication from a “buy” rating to a “hold” rating in a research note on Friday, April 4th.

Gulf Island Fabrication Trading Up 7.8 %

Shares of GIFI stock opened at $6.87 on Wednesday. Gulf Island Fabrication, Inc. has a 12-month low of $5.12 and a 12-month high of $7.59. The company has a quick ratio of 4.50, a current ratio of 4.61 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $111.87 million, a PE ratio of 6.54 and a beta of 0.24. The firm has a 50 day moving average price of $6.42 and a two-hundred day moving average price of $6.57.

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.