Investment Services - Hedge Fund Assessing the Value Equation
Our client, one of the nation's top Mid Cap hedge funds, wanted to inform its investment position in Great Lakes Dredge & Dock Company (NASDAQ:GLDD). GLDD's leadership had announced plans to improve performance through the construction of a new class of ATB dredge, but it was unclear when the vessel would be placed into service.
Between earnings calls, Bush Consulting Group evaluated the impact of the dredge on GLDD's operating margins and its overall competitive position. More importantly, however, our team focused its efforts to pinpoint the most likely date of the dredge's placement into service.
When our work definitively predicted substantial delays to the service date of the vessel well beyond management's forecasts -- ultimately proving to be correct within days -- our client modified the scale of its position in the stock, impacting millions of value.
Investment Services - Hedge Fund Critical Insight Influences Hedge Fund's Position