GAMMA Investing LLC Raises Position in Construction Partners, Inc. (NASDAQ:ROAD)

GAMMA Investing LLC boosted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 6,734.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,599 shares of the company's stock after buying an additional 61,683 shares during the quarter. GAMMA Investing LLC owned approximately 0.11% of Construction Partners worth $4,499,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc bought a new stake in shares of Construction Partners during the 1st quarter valued at $30,000. Golden State Wealth Management LLC bought a new stake in Construction Partners during the fourth quarter valued at about $50,000. Johnson Financial Group Inc. purchased a new stake in Construction Partners in the fourth quarter worth about $66,000. Allworth Financial LP raised its stake in shares of Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company's stock worth $114,000 after buying an additional 160 shares during the period. Finally, Manchester Capital Management LLC purchased a new position in shares of Construction Partners during the 4th quarter valued at about $118,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Price Performance

ROAD traded up $0.97 on Thursday, hitting $105.63. 44,634 shares of the company's stock traded hands, compared to its average volume of 454,255. The company's 50 day simple moving average is $91.30 and its 200-day simple moving average is $86.31. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a one year low of $51.63 and a one year high of $111.98. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 98.72, a P/E/G ratio of 0.99 and a beta of 0.97.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.12. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The firm had revenue of $571.65 million for the quarter, compared to analysts' expectations of $559.61 million. During the same quarter last year, the business posted ($0.02) earnings per share. The company's revenue for the quarter was up 53.9% compared to the same quarter last year. As a group, research analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Insider Buying and Selling

In other Construction Partners news, CEO Fred Julius Smith III purchased 9,333 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were bought at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the purchase, the chief executive officer now directly owns 9,333 shares in the company, valued at $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction on Monday, April 14th. The stock was 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 now directly owns 159,389 shares of the company's stock, valued at $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. 16.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Raymond James dropped their price target 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, April 29th.

About Construction Partners

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.