Construction Partners, Inc. (NASDAQ:ROAD) Position Increased by Walleye Capital LLC

Walleye Capital LLC raised its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 1,074.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,434 shares of the company's stock after purchasing an additional 35,162 shares during the period. Walleye Capital LLC owned 0.07% of Construction Partners worth $3,400,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Byrne Asset Management LLC increased its position in Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after purchasing an additional 133 shares in the last quarter. Allworth Financial LP increased its position in shares of Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company's stock worth $114,000 after acquiring an additional 160 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Construction Partners by 5.0% in the 4th 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 during the period. USA Financial Formulas acquired a new position in shares of Construction Partners during the 4th quarter valued at $31,000. Finally, HighTower Advisors LLC boosted its position in Construction Partners by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock worth $2,612,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Stock Up 2.8 %

Shares of NASDAQ:ROAD traded up $2.13 during trading on Wednesday, hitting $79.19. The company's stock had a trading volume of 135,759 shares, compared to its average volume of 435,743. The company has a market capitalization of $4.42 billion, a PE ratio of 74.01, a PEG ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a fifty-two week low of $49.86 and a fifty-two week high of $103.69. 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's 50-day moving average price is $73.84 and its two-hundred day moving average price is $82.78.

Insider Buying and Selling at Construction Partners

In related news, SVP John L. Harper sold 6,000 shares of the company's 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 sale, the senior vice president now directly owns 159,389 shares of the company's stock, valued at $11,767,689.87. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fred Julius Smith III acquired 9,333 shares of Construction Partners stock in a transaction on Monday, April 14th. The shares were bought at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the purchase, the chief executive officer now directly owns 9,333 shares in the company, valued at $689,055.39. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ROAD has been the topic of several research reports. Raymond James cut their price objective on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a research report on Thursday, January 16th. DA Davidson reissued a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Finally, 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 report on Monday, February 10th.

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.