Walleye Capital LLC Takes $228,000 Position in Construction Partners, Inc. (NASDAQ:ROAD)

Walleye Capital LLC bought a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,272 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC raised its stake in shares of Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after acquiring an additional 120,155 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Construction Partners by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock valued at $53,687,000 after acquiring an additional 24,828 shares during the last quarter. American Century Companies Inc. raised its stake in Construction Partners by 8.0% in the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock worth $52,401,000 after buying an additional 70,099 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Construction Partners by 31.9% in the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after buying an additional 137,572 shares in the last quarter. Finally, Hood River Capital Management LLC raised its stake in Construction Partners by 16.1% in the second quarter. Hood River Capital Management LLC now owns 476,021 shares of the company’s stock worth $26,281,000 after buying an additional 66,021 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Price Performance

ROAD stock opened at $96.75 on Wednesday. Construction Partners, Inc. has a 12 month low of $39.79 and a 12 month high of $103.69. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $86.12 and a 200 day moving average price of $69.44. The stock has a market cap of $5.41 billion, a PE ratio of 73.30, a P/E/G ratio of 1.22 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Insider Activity

In other Construction Partners news, Director Charles E. Owens sold 49,695 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the completion of the transaction, the director now directly owns 130,291 shares in the company, valued at approximately $13,134,635.71. This represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 18.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ROAD shares. DA Davidson increased their price target on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Robert W. Baird increased their price target on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.