Polar Asset Management Partners Inc. Purchases New Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Polar Asset Management Partners Inc. acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 23,800 shares of the company's stock, valued at approximately $2,105,000.

A number of other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp grew its stake in shares of Construction Partners by 175.1% in the fourth quarter. Mackenzie Financial Corp now owns 11,303 shares of the company's stock valued at $1,000,000 after buying an additional 7,195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Construction Partners by 28.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,535 shares of the company's stock valued at $7,655,000 after buying an additional 19,008 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Construction Partners in the fourth quarter valued at $4,994,000. TrinityPoint Wealth LLC acquired a new stake in shares of Construction Partners in the fourth quarter valued at $213,000. Finally, Tyro Capital Management LLC grew its stake in shares of Construction Partners by 20.1% in the fourth quarter. Tyro Capital Management LLC now owns 242,309 shares of the company's stock valued at $21,435,000 after buying an additional 40,608 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the sale, the senior vice president now directly owns 159,389 shares of the company's stock, valued at approximately $11,767,689.87. The trade was a 3.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Fred Julius Smith III bought 9,333 shares of Construction Partners stock in a transaction dated Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the acquisition, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is owned by company insiders.

Construction Partners Stock Up 1.8%

NASDAQ:ROAD traded up $1.89 during midday trading on Friday, reaching $105.07. The company had a trading volume of 352,246 shares, compared to its average volume of 448,794. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 98.20, a PEG ratio of 0.99 and a beta of 0.87. The stock's fifty day simple moving average is $86.06 and its 200-day simple moving average is $85.57. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $108.43. 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 (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. The company 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 11.94% and a net margin of 2.82%. Construction Partners's revenue for the quarter was up 53.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) EPS. On average, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ROAD has been the subject of a number of research reports. Robert W. Baird lifted their price objective on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Raymond James decreased their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a 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.