Jupiter Asset Management Ltd. Takes Position in Construction Partners Inc (ROAD)
Jupiter Asset Management Ltd. acquired a new position in shares of Construction Partners Inc (NASDAQ:ROAD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 397,318 shares of the company’s stock, valued at approximately $4,764,000.
Other hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new stake in Construction Partners in the second quarter valued at $203,000. BlackRock Inc. acquired a new stake in Construction Partners in the second quarter valued at $229,000. Engineers Gate Manager LP acquired a new stake in Construction Partners in the second quarter valued at $283,000. Raymond James & Associates acquired a new stake in Construction Partners in the second quarter valued at $301,000. Finally, Mesirow Financial Investment Management Inc. grew its holdings in Construction Partners by 20.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 32,888 shares of the company’s stock valued at $398,000 after purchasing an additional 5,623 shares during the last quarter. 22.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:ROAD opened at $9.76 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18. Construction Partners Inc has a 52-week low of $8.17 and a 52-week high of $14.06.
About Construction Partners
Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. Its services cover construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides site development, paving, utility and drainage systems, as well as supplies hot mix asphalt.
Further Reading: How to calculate the intrinsic value of a stock
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