Aquatic Capital Management LLC Takes $702,000 Position in Construction Partners, Inc. (NASDAQ:ROAD)

Aquatic Capital Management LLC acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,936 shares of the company's stock, valued at approximately $702,000.

Other institutional investors and hedge funds have also modified their holdings of the company. USA Financial Formulas acquired a new stake in shares of Construction Partners during the 4th quarter valued at about $31,000. Mather Group LLC. purchased a new stake in Construction Partners during the 4th quarter valued at about $33,000. Byrne Asset Management LLC increased its holdings in shares of Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after purchasing an additional 133 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Construction Partners by 400.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after acquiring an additional 433 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in Construction Partners in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Stock Performance

NASDAQ:ROAD traded up $2.73 during trading hours on Friday, reaching $89.57. 605,719 shares of the company's stock were exchanged, compared to its average volume of 438,680. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $103.69. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 83.71, a P/E/G ratio of 0.99 and a beta of 0.85. The company has a 50-day moving average of $74.95 and a 200 day moving average of $83.39. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46.

Insider Buying and Selling at Construction Partners

In related news, SVP John L. Harper sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the transaction, the senior vice president now directly owns 159,389 shares of the company's stock, valued at $11,767,689.87. This trade represents a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Fred Julius Smith III purchased 9,333 shares of the business's stock in a transaction dated Monday, April 14th. The shares were purchased at an average cost of $73.83 per share, with a total value of $689,055.39. Following the purchase, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROAD. Raymond James cut their price objective on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th. Robert W. Baird raised their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th.

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.