GAMMA Investing LLC Has $4.50 Million Stake in Construction Partners, Inc. (NASDAQ:ROAD)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in Construction Partners in the 1st quarter worth $30,000. Golden State Wealth Management LLC bought a new position in Construction Partners during the 4th quarter valued at about $50,000. Johnson Financial Group Inc. bought a new position in Construction Partners during the 4th quarter valued at about $66,000. Allworth Financial LP lifted its holdings in Construction Partners by 15.0% during the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after purchasing an additional 160 shares during the last quarter. Finally, Manchester Capital Management LLC bought a new position in Construction Partners during the 4th quarter valued at about $118,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Construction Partners

In other news, CEO Fred Julius Smith III acquired 9,333 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was purchased at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the acquisition, the chief executive officer now 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 at the SEC website. Also, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction that occurred 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 now owns 159,389 shares of the company's stock, valued at $11,767,689.87. This trade represents a 3.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.36% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James dropped 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 note on Tuesday, April 29th.

Construction Partners Trading Down 1.6%

Shares of ROAD traded down $1.64 on Friday, reaching $103.67. 365,371 shares of the company's stock were exchanged, compared to its average volume of 456,237. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $5.81 billion, a P/E ratio of 96.89, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97. The business has a 50 day moving average price of $92.69 and a two-hundred day moving average price of $86.27. Construction Partners, Inc. has a 12 month low of $51.63 and a 12 month high of $111.98.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $559.61 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. Construction Partners's revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. Research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

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.