Great Lakes Announces New Share Repurchase Program

On August 4, Great Lakes Dredge and Dock Corporation (GLDD) announced that its Board of Directors authorized a new share repurchase program. Under the terms of the agreement, Great Lakes may repurchase up to $75 million of its common stock. Great Lakes has been in business for over 130 years and is the largest provider of dredging services in the United States.


Sonal issued an alert at 8:00 am. The last trade was at 4:00 pm the previous afternoon for $8.64. The stock price spiked higher at the market open and continued to trade around $9.50 throughout the rest of the day. Great Lakes closed at $9.56 with an event-day gain of 10.7%.


Great Lakes’ stock price continued to rise over the next four trading days. It closed at $9.85 on August 10 for a five-day gain of 14%.


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