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 dated Thursday, June 11th. The stock was sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the completion of the sale, the director directly owned 597,155 shares of the company’s stock, valued at $6,359,700.75. The trade was a 14.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Concrete Pumping Stock Up 4.2%

Shares of BBCP traded up $0.45 during midday trading on Thursday, hitting $11.14. The company had a trading volume of 571,589 shares, compared to its average volume of 193,186. The company’s 50 day moving average price is $7.83 and its 200 day moving average price is $7.07. The stock has a market cap of $562.69 million, a price-to-earnings ratio of 79.57 and a beta of 0.94. Concrete Pumping Holdings, Inc. has a 52 week low of $5.55 and a 52 week high of $11.98. 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 released its earnings results on Thursday, June 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $106.80 million during the quarter, compared to the consensus estimate of $96.71 million. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%. On average, equities research analysts predict that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current year.

Institutional Investors Weigh In On Concrete Pumping

A number of institutional investors have recently modified their holdings of BBCP. BNP Paribas Financial Markets grew its position in shares of Concrete Pumping by 97.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock valued at $31,000 after buying an additional 2,187 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Concrete Pumping during the 1st quarter valued at about $54,000. Strs Ohio bought a new stake in shares of Concrete Pumping during the 1st quarter valued at about $62,000. Verition Fund Management LLC bought a new position in Concrete Pumping in the 4th quarter worth about $69,000. Finally, OakTrust Wealth Advisors LLC bought a new position in Concrete Pumping in the 4th quarter worth about $71,000. Institutional investors own 34.20% of the company’s stock.

Analysts Set New Price Targets

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

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.