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

Renaissance Technologies LLC grew its stake in Gulf Island Fabrication (NASDAQ:GIFI) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,229 shares of the oil and gas company’s stock after purchasing an additional 53,200 shares during the quarter. Renaissance Technologies LLC owned approximately 2.62% of Gulf Island Fabrication worth $5,239,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Kokino LLC lifted its holdings in shares of 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 valued at $11,298,000 after purchasing an additional 801,959 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Gulf Island Fabrication by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 104,333 shares of the oil and gas company’s stock valued at $1,400,000 after acquiring an additional 5,975 shares during the last quarter. Rhumbline Advisers increased its position in shares of Gulf Island Fabrication by 16.3% during the fourth quarter. Rhumbline Advisers now owns 32,584 shares of the oil and gas company’s stock valued at $437,000 after acquiring an additional 4,568 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of Gulf Island Fabrication during the fourth quarter valued at approximately $306,000. Finally, Wells Fargo & Company MN increased its position in shares of Gulf Island Fabrication by 256.6% during the fourth quarter. Wells Fargo & Company MN now owns 23,863 shares of the oil and gas company’s stock valued at $320,000 after acquiring an additional 17,172 shares during the last quarter. Institutional investors own 72.14% of the company’s stock.

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Shares of GIFI opened at $8.50 on Monday. Gulf Island Fabrication has a 12 month low of $6.90 and a 12 month high of $13.95.

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

In other Gulf Island Fabrication news, CEO Kirk J. Meche purchased 3,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average cost 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Todd F. Ladd purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 29th. The shares were acquired at an average cost of $7.20 per share, with a total value of $36,000.00. Following the completion of the transaction, the chief operating officer now directly owns 161,003 shares of the company’s stock, valued at approximately $1,159,221.60. The disclosure for this purchase can be found here. Insiders have purchased 9,600 shares of company stock valued at $74,234 over the last ninety days. 3.40% of the stock is currently owned by company insiders.

GIFI has been the subject of a number of research analyst reports. TheStreet downgraded Gulf Island Fabrication from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. ValuEngine downgraded Gulf Island Fabrication from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd.

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About Gulf Island Fabrication

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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