Insider Selling: Concrete Pumping (NASDAQ:BBCP) Director Sells 100,000 Shares of Stock

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Director Brent Stevens sold 100,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $10.65, for a total value of $1,065,000.00. Following the completion of the transaction, the director owned 597,155 shares of the company’s stock, valued at $6,359,700.75. This trade represents a 14.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Concrete Pumping Trading Up 4.2%

Shares of NASDAQ BBCP traded up $0.45 during trading on Thursday, hitting $11.14. 571,589 shares of the company traded hands, compared to its average volume of 193,186. Concrete Pumping Holdings, Inc. has a 1 year low of $5.55 and a 1 year high of $11.98. The company has a 50-day moving average price of $7.83 and a 200-day moving average price of $7.07. The firm has a market capitalization of $562.69 million, a P/E ratio of 79.57 and a beta of 0.94. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59.

Concrete Pumping (NASDAQ:BBCP) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. The company had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $96.71 million. On average, equities analysts predict that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BBCP. Weiss Ratings upgraded shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Wall Street Zen upgraded shares of Concrete Pumping from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Robert W. Baird boosted their price objective on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.25.

Hedge Funds Weigh In On Concrete Pumping

Institutional investors have recently added to or reduced their stakes in the company. Raiffeisen Bank International AG lifted its holdings in Concrete Pumping by 64.0% in the 3rd quarter. Raiffeisen Bank International AG now owns 254,785 shares of the company’s stock worth $1,796,000 after buying an additional 99,395 shares in the last quarter. Royce & Associates LP lifted its holdings in Concrete Pumping by 5.4% in the 3rd quarter. Royce & Associates LP now owns 1,767,641 shares of the company’s stock worth $12,462,000 after buying an additional 90,516 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Concrete Pumping by 13.8% in the 3rd quarter. GSA Capital Partners LLP now owns 83,790 shares of the company’s stock worth $591,000 after buying an additional 10,185 shares in the last quarter. North Star Investment Management Corp. bought a new stake in shares of Concrete Pumping in the 1st quarter worth about $885,000. Finally, Aristides Capital LLC increased its position in shares of Concrete Pumping by 7.7% in the 4th quarter. Aristides Capital LLC now owns 99,392 shares of the company’s stock worth $667,000 after purchasing an additional 7,142 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

About Concrete Pumping

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.