Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Sees Significant Growth in Short Interest

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 596,200 shares, an increase of 23.3% from the February 28th total of 483,500 shares. Based on an average daily volume of 197,500 shares, the short-interest ratio is presently 3.0 days. Currently, 2.7% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, CEO Bruce F. Young purchased 49,507 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $5.19 per share, with a total value of $256,941.33. Following the purchase, the chief executive officer now owns 1,722,622 shares in the company, valued at $8,940,408.18. This represents a 2.96 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Concrete Pumping

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new stake in Concrete Pumping during the 4th quarter valued at approximately $55,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Concrete Pumping during the fourth quarter worth approximately $75,000. MetLife Investment Management LLC boosted its position in shares of Concrete Pumping by 54.0% in the fourth quarter. MetLife Investment Management LLC now owns 11,202 shares of the company’s stock valued at $75,000 after acquiring an additional 3,928 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Concrete Pumping in the fourth quarter worth $81,000. Finally, Wells Fargo & Company MN increased its position in Concrete Pumping by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 13,968 shares of the company’s stock worth $93,000 after acquiring an additional 3,042 shares during the period. 34.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BBCP shares. DA Davidson reduced their target price on shares of Concrete Pumping from $9.50 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Robert W. Baird cut their price target on shares of Concrete Pumping from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.44.

Concrete Pumping Stock Up 1.9 %

Shares of BBCP stock opened at $5.46 on Tuesday. The stock’s 50 day simple moving average is $6.83 and its 200 day simple moving average is $6.51. Concrete Pumping has a twelve month low of $4.78 and a twelve month high of $9.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.89 and a current ratio of 1.99. The company has a market capitalization of $289.66 million, a price-to-earnings ratio of 21.00 and a beta of 1.25.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings results on Wednesday, January 8th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Concrete Pumping had a net margin of 3.81% and a return on equity of 6.19%. As a group, research analysts predict that Concrete Pumping will post 0.43 EPS for the current year.

Concrete Pumping Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 24th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, January 24th.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.