Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lowered its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 65.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,415 shares of the company's stock after selling 21,975 shares during the period. Calamos Advisors LLC's holdings in Construction Partners were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after purchasing an additional 1,046,617 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Construction Partners by 75.6% in the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock valued at $132,147,000 after purchasing an additional 642,987 shares during the last quarter. FMR LLC raised its stake in Construction Partners by 32.1% during the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock valued at $206,094,000 after acquiring an additional 565,583 shares during the last quarter. Artemis Investment Management LLP raised its stake in Construction Partners by 225.9% during the 1st quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock valued at $50,018,000 after acquiring an additional 482,374 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Construction Partners during the 4th quarter valued at approximately $42,527,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Price Performance

Shares of ROAD traded up $2.04 on Wednesday, reaching $104.58. The stock had a trading volume of 414,393 shares, compared to its average volume of 471,976. The firm has a market capitalization of $5.86 billion, a PE ratio of 89.39, a PEG ratio of 1.28 and a beta of 0.96. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 1.63. The firm has a 50-day moving average of $102.32 and a 200 day moving average of $87.33. Construction Partners, Inc. has a twelve month low of $51.63 and a twelve month high of $111.98.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. The business had revenue of $571.65 million for the quarter, compared to analysts' expectations of $559.61 million. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The company's revenue was up 53.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. Sell-side analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial dropped their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th.

Insiders Place Their Bets

In related news, SVP John L. Harper sold 6,000 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 159,389 shares of the company's stock, valued at approximately $11,767,689.87. This trade represents a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Fred Julius Smith III bought 9,333 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the transaction, the chief executive officer directly owned 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 16.36% of the company's stock.

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.