Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Construction Partners Inc shares valued at $5,997,125 were sold by Matteson Mark R on Aug 23 ’24. At $63.40 per share, Matteson Mark R sold 94,592 shares. The insider’s holdings dropped to 8,000 shares worth approximately $0.73 million following the completion of this transaction.
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Also, Matteson Mark R sold 25,408 shares, netting a total of over 1,574,534 in proceeds. Following the sale of shares at $61.97 each, the insider now holds 102,592 shares.
Before that, Matteson Mark R had added 120,000 shares to its account. In a trade valued at $7,371,600, the affiliate bought Construction Partners Inc shares for $61.43 each.
As published in a research note from Sidoti on March 28, 2024, Construction Partners Inc [ROAD] has been rated down from a Buy to a Neutral and the price target has been revised to $59. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. Earlier on June 01, 2022, Sidoti initiated its rating. Their recommendation was “a Buy” for ROAD stock.
Analyzing ROAD Stock Performance
During the last five days, there has been a drop of approximately -0.07%. Over the course of the year, Construction Partners Inc shares have jumped approximately 109.81%. Shares of the company reached a 52-week high of $97.25 on 11/12/24 and a 52-week low of $39.79 on 01/09/24. A 50-day SMA is recorded $77.71, while a 200-day SMA reached $61.05. Nevertheless, trading volume fell to 0.68 million shares from 0.37 million shares the previous day.
Support And Resistance Levels for Construction Partners Inc (ROAD)
According to the 24-hour chart, there is a support level at 90.24, which, if violated, would cause prices to drop to 89.17. In the upper region, resistance lies at 93.05. The next price resistance is at 94.78. RSI (Relative Strength Index) is 62.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.22, which suggests the price will increase in the coming days. Percent R is at 30.88%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
