Dark Forest Capital Management LP decreased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 68.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,116 shares of the company's stock after selling 22,443 shares during the period. Dark Forest Capital Management LP's holdings in Construction Partners were worth $895,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of Construction Partners during the 4th quarter worth approximately $31,000. Mather Group LLC. purchased a new stake in Construction Partners during the fourth quarter worth about $33,000. Byrne Asset Management LLC increased its holdings in 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 buying an additional 133 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Construction Partners by 400.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after buying an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Construction Partners during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 94.83% of the company's stock.
Analyst Upgrades and Downgrades
ROAD has been the subject of a number of research analyst reports. DA Davidson restated a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Raymond James cut their target price on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday. Finally, Robert W. Baird increased their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th.
Read Our Latest Analysis on ROAD
Insider Activity
In other Construction Partners news, CEO Fred Julius Smith III acquired 9,333 shares of the stock in a transaction dated Monday, April 14th. The stock was acquired at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John L. Harper sold 6,000 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly owns 159,389 shares in the company, valued at approximately $11,767,689.87. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 16.36% of the company's stock.
Construction Partners Price Performance
Shares of ROAD traded up $0.50 during trading hours on Tuesday, reaching $81.10. 78,416 shares of the company traded hands, compared to its average volume of 436,623. The stock has a fifty day simple moving average of $73.96 and a 200 day simple moving average of $83.11. Construction Partners, Inc. has a fifty-two week low of $50.42 and a fifty-two week high of $103.69. The stock has a market capitalization of $4.53 billion, a PE ratio of 75.58, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46.
Construction Partners Company Profile
(
Free Report)
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.
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