Highbridge Capital Management LLC acquired a new position in shares of Concrete Pumping Holdings Inc (NASDAQ:BBCP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,214,400 shares of the company’s stock, valued at approximately $6,218,000. Highbridge Capital Management LLC owned 2.09% of Concrete Pumping as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. US Bancorp DE bought a new stake in Concrete Pumping during the second quarter worth about $114,000. Charles Schwab Investment Management Inc. bought a new stake in Concrete Pumping during the second quarter worth about $118,000. Wells Fargo & Company MN bought a new stake in Concrete Pumping during the second quarter worth about $153,000. Bank of New York Mellon Corp bought a new stake in Concrete Pumping during the second quarter worth about $161,000. Finally, Myriad Asset Management Ltd. bought a new stake in Concrete Pumping during the second quarter worth about $215,000. 27.55% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Concrete Pumping in a research report on Thursday, May 23rd. They set a “buy” rating and a $9.00 price objective for the company. Zacks Investment Research cut shares of Concrete Pumping from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, ValuEngine raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $8.33.
Shares of BBCP stock traded down $0.01 on Friday, reaching $4.04. The company had a trading volume of 18,024 shares, compared to its average volume of 112,762. The stock has a market capitalization of $225.23 million, a PE ratio of 1.63 and a beta of 0.60. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Concrete Pumping Holdings Inc has a one year low of $3.20 and a one year high of $15.25. The business’s 50-day moving average is $3.94 and its 200 day moving average is $5.68.
Concrete Pumping Company Profile
Concrete Pumping Holdings, Inc provides concrete pumping and concrete waste management services. The company offers concrete pumping services under the Brundage-Bone brand and concrete waste management services under the Eco-Pan brand in the United States; and concrete pumping services under the Camfaud brand in the United Kingdom.
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