Calamos Advisors LLC Sells 21,975 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Calamos Advisors LLC trimmed its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 65.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,415 shares of the company's stock after selling 21,975 shares during the quarter. Calamos Advisors LLC's holdings in Construction Partners were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in Construction Partners by 319.1% in the fourth quarter. Jones Financial Companies Lllp now owns 9,643 shares of the company's stock worth $853,000 after acquiring an additional 7,342 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Construction Partners by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company's stock valued at $40,957,000 after buying an additional 9,788 shares during the period. Proficio Capital Partners LLC purchased a new position in Construction Partners during the fourth quarter valued at $1,596,000. Raymond James Financial Inc. purchased a new position in Construction Partners during the fourth quarter valued at $42,527,000. Finally, Inceptionr LLC lifted its position in Construction Partners by 54.2% during the fourth quarter. Inceptionr LLC now owns 5,598 shares of the company's stock valued at $495,000 after buying an additional 1,967 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP John L. Harper sold 6,000 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 shares were bought at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the purchase, the chief executive officer directly owned 9,333 shares of the company's stock, valued at $689,055.39. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by corporate insiders.

Construction Partners Stock Up 0.7%

Shares of ROAD traded up $0.68 during trading hours on Thursday, hitting $105.26. The company had a trading volume of 323,293 shares, compared to its average volume of 471,384. The firm has a fifty day moving average price of $102.32 and a 200-day moving average price of $87.33. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.13 and a current ratio of 1.42. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 89.97, a P/E/G ratio of 1.28 and a beta of 0.96. Construction Partners, Inc. has a 52-week low of $51.63 and a 52-week 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.12. The business had revenue of $571.65 million during the quarter, compared to the consensus estimate of $559.61 million. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The business's quarterly revenue was up 53.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) EPS. On average, equities research analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial lowered their price target 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.

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.