Loeb's Third Point LLC Discloses 5.3% Stake in Orion Marine Group (OMGI)
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In a 13G filing on Orion Marine Group, Inc (Nasdaq: OMGI), Daniel Loeb's Third Point LLC disclosed a 5.3% stake (1,144,700 shares) in the company . The firm did not show a stake in OMGI at the quarter ended 12/31/07. A 13G indicates a 'passive investment'.
Orion Marine Group, Inc. provides a broad range of marine construction and specialty services on, over and under the water along the Gulf Coast, the Atlantic Seaboard and the Caribbean Basin and acts as a single-source turnkey solution for its customers' marine contracting needs.
Daniel S. Loeb runs $4.5 billion New York-based hedge fund Third Point LLC, which he founded in 1995. Loeb is known for his scathing letters to companies, in which he often criticizes management and pushes for changes.
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