63,200 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Bought by Aubrey Capital Management Ltd

Aubrey Capital Management Ltd bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 63,200 shares of the company's stock, valued at approximately $4,410,000. Construction Partners comprises 1.7% of Aubrey Capital Management Ltd's holdings, making the stock its 17th largest holding. Aubrey Capital Management Ltd owned about 0.12% of Construction Partners as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ROAD. Covestor Ltd grew its stake in Construction Partners by 17,700.0% during the 1st quarter. Covestor Ltd now owns 534 shares of the company's stock worth $30,000 after buying an additional 531 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company's stock valued at $61,000 after acquiring an additional 171 shares during the period. KBC Group NV grew its position in shares of Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company's stock worth $99,000 after acquiring an additional 367 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Construction Partners by 55.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company's stock worth $101,000 after acquiring an additional 653 shares during the period. Finally, nVerses Capital LLC bought a new stake in Construction Partners in the 2nd quarter valued at about $116,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Activity

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the transaction, the director now owns 102,592 shares of the company's stock, valued at $6,357,626.24. The trade was a 19.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ROAD. Stifel Nicolaus lifted their price target on Construction Partners from $61.00 to $67.00 and gave the company a "buy" rating in a report on Monday, August 12th. Robert W. Baird increased their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Raymond James upped their price target on Construction Partners from $69.00 to $72.00 and gave the company a "strong-buy" rating in a report on Monday, August 12th. Finally, DA Davidson raised their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

Construction Partners Trading Down 2.3 %

NASDAQ ROAD traded down $2.13 on Thursday, hitting $89.24. 348,891 shares of the stock were exchanged, compared to its average volume of 359,647. The company's 50-day moving average price is $74.54 and its two-hundred day moving average price is $63.68. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $97.25. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 67.68, a P/E/G ratio of 1.18 and a beta of 0.65.

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.