12,335 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Bought by Gallo Partners LP

Gallo Partners LP acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,335 shares of the company's stock, valued at approximately $1,091,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROAD. Byrne Asset Management LLC raised its holdings in shares of Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after purchasing an additional 133 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Construction Partners by 15.0% in the 4th 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 last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Construction Partners by 5.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock valued at $397,000 after acquiring an additional 213 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Construction Partners during the fourth quarter valued at approximately $31,000. Finally, HighTower Advisors LLC lifted its holdings in Construction Partners by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock worth $2,612,000 after acquiring an additional 350 shares during the period. 94.83% of the stock is owned by institutional investors.

Insider Activity at Construction Partners

In related news, CEO Fred Julius Smith III purchased 9,333 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were 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 now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the firm'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 ownership of the stock. The disclosure for this sale can be found here. 16.36% of the stock is currently owned by corporate insiders.

Construction Partners Stock Performance

NASDAQ ROAD traded down $0.08 during trading on Monday, hitting $89.50. 129,084 shares of the company's stock traded hands, compared to its average volume of 437,468. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 83.64, a PEG ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $103.69. The business has a 50 day moving average of $74.95 and a 200-day moving average of $83.39.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ROAD shares. 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 research report on Tuesday, April 29th. DA Davidson reaffirmed a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird increased their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th.

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.