GAMMA Investing LLC Has $61,000 Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

GAMMA Investing LLC grew its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 24.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 873 shares of the company’s stock after purchasing an additional 171 shares during the period. GAMMA Investing LLC’s holdings in Construction Partners were worth $61,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROAD. Wasatch Advisors LP grew its stake in shares of Construction Partners by 188.3% in the first quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock valued at $95,024,000 after buying an additional 1,105,423 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Construction Partners in the second quarter valued at $20,360,000. TimesSquare Capital Management LLC bought a new position in shares of Construction Partners in the first quarter valued at $19,832,000. Geneva Capital Management LLC grew its stake in shares of Construction Partners by 8.5% in the first quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock valued at $191,403,000 after buying an additional 268,225 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in shares of Construction Partners by 31.9% in the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after buying an additional 137,572 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Construction Partners

In other news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the completion of the sale, the director now owns 102,592 shares of the company’s stock, valued at approximately $6,357,626.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 18.80% of the company’s stock.

Construction Partners Stock Up 2.7 %

ROAD opened at $75.88 on Thursday. Construction Partners, Inc. has a fifty-two week low of $36.70 and a fifty-two week high of $76.73. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. The company has a market capitalization of $4.00 billion, a P/E ratio of 64.85, a P/E/G ratio of 1.28 and a beta of 0.67. The stock has a fifty day moving average of $65.97 and a 200-day moving average of $59.59.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The company had revenue of $517.80 million during the quarter, compared to the consensus estimate of $503.57 million. During the same quarter last year, the firm earned $0.41 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. On average, equities analysts expect that Construction Partners, Inc. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

ROAD has been the subject of a number of research analyst reports. DA Davidson lifted their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Raymond James lifted their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.60.

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.