Conestoga Capital Slashes Construction Partners Stake to 4 Shares

TL;DR

**Conestoga Capital Advisors just dumped almost all their Construction Partners stock!**

AI Summary

Conestoga Capital Advisors, LLC filed an amended Schedule 13G/A on January 5, 2024, indicating a change in their beneficial ownership of Construction Partners, Inc. Class A Common Stock as of December 31, 2023. This filing, Amendment No. 5, shows that Conestoga Capital Advisors now holds sole voting power over 4 shares, a significant reduction from previous filings. This matters to investors because it signals a substantial decrease in Conestoga's active investment and influence in Construction Partners, potentially impacting market perception or liquidity.

Why It Matters

This filing shows a major institutional investor, Conestoga Capital Advisors, has drastically reduced its stake in Construction Partners, which could signal a loss of confidence or a strategic portfolio shift.

Risk Assessment

Risk Level: medium — A significant reduction in holdings by an institutional investor can sometimes precede negative stock performance or indicate underlying concerns about the company.

Analyst Insight

A smart investor would investigate the reasons behind Conestoga Capital Advisors' drastic reduction in their Construction Partners, Inc. stake, looking for any negative news or fundamental changes that might have prompted this move, before making any investment decisions.

Key Numbers

• 4 — Shares Beneficially Owned (Conestoga Capital Advisors, LLC's sole voting power over Construction Partners, Inc. Class A Common Stock as of December 31, 2023.)
• 21044C107 — CUSIP Number (Identifies the Class A Common Stock of Construction Partners, Inc.)
• 005-90470 — SEC File Number (The SEC file number for Construction Partners, Inc.)

Key Players & Entities

• Conestoga Capital Advisors, LLC (company) — the reporting person who filed the SC 13G/A
• Construction Partners, Inc. (company) — the subject company whose securities are being reported
• Delaware (company) — state of incorporation for Conestoga Capital Advisors, LLC
• December 31, 2023 (date) — the date of the event requiring the filing
• January 5, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• Construction Partners, Inc. stock may experience increased volatility due to the significant reduction in institutional ownership. (Construction Partners, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Construction Partners, Inc. following Conestoga's divestment. (Construction Partners, Inc.) — low confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) (Class A) Common Stock, $0.01 Par Value (Title of Class of Securitie

Filing Documents

• roada5_10524.htm (SC 13G/A) — 32KB
• 0001085146-24-000027.txt ( ) — 33KB

(a)

ITEM 1(a). NAME OF ISSUER: Construction Partners, Inc.

(b)

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 290 Healthwest Drive, Suite 2 Dothan, Alabama 36303

(a)

ITEM 2(a). NAME OF PERSON FILING: Conestoga Capital Advisors, LLC. Conestoga Small Cap Fund

(b)

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 550 E. Swedesford Rd. Ste.120 Wayne, PA 19087

(c)

ITEM 2(c). CITIZENSHIP: Delaware Delaware

(d)

ITEM 2(d). TITLE OF CLASS OF SECURITIES: (Class A) Common Stock, $0.01 Par Value

(e)

ITEM 2(e). CUSIP NUMBER: 21044C107 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [X] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. (a) Amount beneficially owned: Conestoga Capital Advisors: 4,798,691 Conestoga Small Cap Fund: 2,644,907 (b) Percent of class: Conestoga Capital Advisors: 10.98% Conestoga Small Cap Fund: 6.05% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: 4,540,482 2,644,907 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or direct the disposition of: 4,798,691 2,644,907 (iv) shared power to dispose or to direct the disposition of: 0 ITEM 5. If this statement is being filed to report the

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View this SC 13G/A filing on SEC EDGAR