Penn Capital Management Company LLC Decreases Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Penn Capital Management Company LLC trimmed its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 20.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,599 shares of the company's stock after selling 25,497 shares during the period. Penn Capital Management Company LLC owned approximately 0.17% of Construction Partners worth $8,634,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Construction Partners by 13.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,089 shares of the company's stock worth $3,016,000 after buying an additional 3,943 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Construction Partners by 5.3% in the 4th quarter. MetLife Investment Management LLC now owns 25,926 shares of the company's stock valued at $2,293,000 after purchasing an additional 1,305 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Construction Partners by 44.9% in the fourth quarter. First Trust Advisors LP now owns 839,873 shares of the company's stock valued at $74,295,000 after purchasing an additional 260,148 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Construction Partners during the 4th quarter worth approximately $425,000. Finally, Walleye Capital LLC grew its holdings in shares of Construction Partners by 1,074.6% in the 4th quarter. Walleye Capital LLC now owns 38,434 shares of the company's stock worth $3,400,000 after acquiring an additional 35,162 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Trading Up 0.9 %

Shares of ROAD stock traded up $0.73 during mid-day trading on Tuesday, hitting $81.33. 99,267 shares of the company's stock were exchanged, compared to its average volume of 436,699. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 76.01, a PEG ratio of 0.99 and a beta of 0.85. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a fifty-two week low of $50.42 and a fifty-two week high of $103.69. The stock has a 50-day simple moving average of $73.96 and a two-hundred day simple moving average of $83.11.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities research analysts recently commented on ROAD shares. Robert W. Baird increased their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. DA Davidson reissued a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Finally, Raymond James decreased their price objective on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Tuesday.

Construction Partners 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.