Renaissance Technologies LLC Purchases 53,200 Shares of Gulf Island Fabrication (GIFI)

Renaissance Technologies LLC boosted its position in Gulf Island Fabrication (NASDAQ:GIFI) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 390,229 shares of the oil and gas company’s stock after buying an additional 53,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Gulf Island Fabrication were worth $5,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in GIFI. Kokino LLC increased its position in Gulf Island Fabrication by 2,024.3% in the fourth quarter. Kokino LLC now owns 841,576 shares of the oil and gas company’s stock worth $11,298,000 after buying an additional 801,959 shares during the last quarter. State Street Corp increased its position in Gulf Island Fabrication by 186.7% in the second quarter. State Street Corp now owns 201,559 shares of the oil and gas company’s stock worth $2,337,000 after buying an additional 131,261 shares during the last quarter. California State Teachers Retirement System purchased a new stake in Gulf Island Fabrication in the second quarter worth $281,000. Arizona State Retirement System purchased a new stake in Gulf Island Fabrication in the fourth quarter worth $306,000. Finally, Marshwinds Advisory Co. purchased a new stake in Gulf Island Fabrication in the fourth quarter worth $300,000. 72.14% of the stock is owned by institutional investors and hedge funds.

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A number of analysts have issued reports on GIFI shares. ValuEngine downgraded Gulf Island Fabrication from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. TheStreet downgraded Gulf Island Fabrication from a “c-” rating to a “d+” rating in a research report on Friday, March 16th.

In related news, COO Todd F. Ladd purchased 5,000 shares of Gulf Island Fabrication stock in a transaction dated Thursday, March 29th. The stock was bought at an average cost of $7.20 per share, for a total transaction of $36,000.00. Following the completion of the transaction, the chief operating officer now owns 161,003 shares in the company, valued at $1,159,221.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kirk J. Meche purchased 3,600 shares of Gulf Island Fabrication stock in a transaction dated Thursday, March 1st. The stock was bought at an average price of $8.29 per share, with a total value of $29,844.00. Following the completion of the transaction, the chief executive officer now owns 330,103 shares of the company’s stock, valued at approximately $2,736,553.87. The disclosure for this purchase can be found here. Insiders acquired 9,600 shares of company stock valued at $74,234 over the last three months. Company insiders own 3.40% of the company’s stock.

NASDAQ:GIFI opened at $8.50 on Monday. Gulf Island Fabrication has a 1 year low of $6.90 and a 1 year high of $13.95.

Gulf Island Fabrication (NASDAQ:GIFI) last released its earnings results on Monday, February 26th. The oil and gas company reported ($1.13) earnings per share (EPS) for the quarter. Gulf Island Fabrication had a negative return on equity of 15.44% and a negative net margin of 26.17%. The firm had revenue of $37.28 million during the quarter.

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Gulf Island Fabrication 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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Institutional Ownership by Quarter for Gulf Island Fabrication (NASDAQ:GIFI)

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