Alyeska Investment Group L.P. Invests $78.04 Million in Suncrete $RMIX

Key Points

• Alyeska Investment Group acquired 3.46 million Suncrete shares valued at approximately $78.04 million, giving it a 4.84% stake. Bank of New York Mellon also established a $27.36 million position, while institutions and hedge funds collectively own 71.07% of the stock.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $22.25. Jefferies set the highest cited target at $22.00, while other firms issued Buy or Outperform ratings.
• Suncrete reported a quarterly loss of $0.72 per share, substantially missing the $0.02 loss expected by analysts, while revenue reached $97.23 million—up 146.2% year over year but below forecasts.

Alyeska Investment Group L.P. acquired a new stake in Suncrete (NASDAQ:RMIX - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,464,007 shares of the company's stock, valued at approximately $78,044,000. Alyeska Investment Group L.P. owned 4.84% of Suncrete at the end of the most recent reporting period.

Separately, Bank of New York Mellon Corp acquired a new position in shares of Suncrete during the 2nd quarter valued at $27,360,000. 71.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings raised Suncrete from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 14th. Jefferies Financial Group reiterated a "buy" rating and issued a $22.00 price target on shares of Suncrete in a report on Tuesday, August 18th. Robert W. Baird initiated coverage on Suncrete in a research note on Wednesday, May 27th. They issued an "outperform" rating and a $21.00 price objective for the company. Roth Capital assumed coverage on Suncrete in a report on Thursday, May 14th. They set a "buy" rating and a $21.00 price objective for the company. Finally, William Blair assumed coverage on Suncrete in a report on Monday, May 4th. They set an "outperform" rating for the company. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $22.25.

Suncrete Stock Performance

NASDAQ:RMIX opened at $17.50 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.40. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -125.00 and a beta of 0.72. Suncrete has a 52 week low of $9.20 and a 52 week high of $25.50. The company has a 50-day moving average price of $19.13.

Suncrete (NASDAQ:RMIX - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.72) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.70). The firm had revenue of $97.23 million during the quarter, compared to analysts' expectations of $104.93 million. The company's quarterly revenue was up 146.2% on a year-over-year basis. As a group, sell-side analysts forecast that Suncrete will post -0.01 earnings per share for the current year.

Suncrete Company Profile

Haymaker Acquisition Corp. 4 is a blank check company. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other business combination with one or more businesses or entities. Haymaker Acquisition Corp. 4 is based in New York.

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