Do You Think Construction Partners (ROAD) Will Be Able to Retain its Growth?

Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Value Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy underperformed its benchmark index, the Russell 2000 Value Index, which fell -4.61% in the third quarter. The strategy typically performed well in down markets, but it was not the case in the third quarter. In particular, the strategy’s holdings in the real estate sector detracted from the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Global Investors highlighted stocks like Construction Partners, Inc. (NASDAQ:ROAD) in its Q3 2022 investor letter. Headquartered in Dothan, Alabama, Construction Partners, Inc. (NASDAQ:ROAD) is an infrastructure company. On December 9, 2022, Construction Partners, Inc. (NASDAQ:ROAD) stock closed at $25.17 per share. One-month return of Construction Partners, Inc. (NASDAQ:ROAD) was -17.66%, and its shares lost 24.41% of their value over the last 52 weeks. Construction Partners, Inc. (NASDAQ:ROAD) has a market capitalization of $1.326 billion.

Wasatch Global Investors made the following comment about Construction Partners, Inc. (NASDAQ:ROAD) in its Q3 2022 investor letter:

“We also benefited from the strong showing of road and infrastructure builder Construction Partners, Inc. (NASDAQ:ROAD). The stock, which had lagged in the previous quarter, recovered as investors grew more comfortable with the company’s ability to maintain profit margins even in the face of challenging economic conditions.”

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Construction Partners, Inc. (NASDAQ:ROAD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Construction Partners, Inc. (NASDAQ:ROAD) at the end of the third quarter, which was 5 in the previous quarter.

We discussed Construction Partners, Inc. (NASDAQ:ROAD) in another article and shared the list of stocks that US senators are selling. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.