23,800 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Purchased by Polar Asset Management Partners Inc.

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

A number of other institutional investors have also recently made changes to their positions in ROAD. USA Financial Formulas bought a new stake in shares of Construction Partners in the 4th quarter valued at about $31,000. Mather Group LLC. acquired a new position in shares of Construction Partners in the 4th quarter valued at about $33,000. Byrne Asset Management LLC lifted its stake in shares of Construction Partners by 33.3% in the 4th 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 period. Nisa Investment Advisors LLC lifted its stake in shares of Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after purchasing an additional 433 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in shares of Construction Partners in the 4th quarter valued at about $50,000. Institutional investors own 94.83% of the company's stock.

Insider Buying and Selling at Construction Partners

In related news, CEO Fred Julius Smith III purchased 9,333 shares of the business's 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 of the company's stock, valued at approximately $689,055.39. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction on 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 owns 159,389 shares in the company, 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. 16.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ROAD. Raymond James dropped 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, April 29th. DA Davidson reaffirmed a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Robert W. Baird upped their price target on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th.

Construction Partners Stock Down 2.0%

Shares of Construction Partners stock traded down $2.00 on Thursday, hitting $99.66. The company had a trading volume of 91,081 shares, compared to its average volume of 443,759. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 93.27, a P/E/G ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 year high of $104.53. The stock has a 50 day moving average of $82.17 and a 200-day moving average of $84.92. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $559.61 million. During the same quarter in the prior year, the business posted ($0.02) EPS. The business's revenue was up 53.9% compared to the same quarter last year. As a group, sell-side analysts forecast 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.