Mountain Lake Investment Management LLC increased its holdings in Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the company’s stock after acquiring an additional 25,300 shares during the period. Concrete Pumping comprises about 2.1% of Mountain Lake Investment Management LLC’s holdings, making the stock its 20th largest holding. Mountain Lake Investment Management LLC owned approximately 0.89% of Concrete Pumping worth $3,705,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in Concrete Pumping by 8.6% during the fourth quarter. BlackRock Inc. now owns 1,546,675 shares of the company’s stock worth $5,923,000 after buying an additional 122,922 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Concrete Pumping during the first quarter valued at about $9,134,000. Royce & Associates LP increased its position in shares of Concrete Pumping by 19.5% during the first quarter. Royce & Associates LP now owns 1,012,418 shares of the company’s stock valued at $7,502,000 after buying an additional 165,000 shares during the period. Renaissance Technologies LLC grew its holdings in Concrete Pumping by 235.8% in the first quarter. Renaissance Technologies LLC now owns 476,100 shares of the company’s stock worth $3,528,000 after purchasing an additional 334,300 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Concrete Pumping in the first quarter worth about $3,527,000. Hedge funds and other institutional investors own 27.84% of the company’s stock.
BBCP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Concrete Pumping from a “sell” rating to a “hold” rating in a report on Friday, July 2nd. Robert W. Baird increased their price target on shares of Concrete Pumping from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 15th. Finally, UBS Group upgraded shares of Concrete Pumping from a “neutral” rating to a “buy” rating and increased their price target for the stock from $6.00 to $11.00 in a research report on Friday, June 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $8.35.
Concrete Pumping 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 Camfaud brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.
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