Harraden Circle Investments LLC Makes New $17.65 Million Investment in Suncrete $RMIX

Harraden Circle Investments LLC acquired a new stake in Suncrete (NASDAQ:RMIX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 783,260 shares of the company’s stock, valued at approximately $17,647,000. Suncrete accounts for about 1.7% of Harraden Circle Investments LLC’s investment portfolio, making the stock its 22nd largest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Susquehanna International Group LLP bought a new position in shares of Suncrete during the second quarter worth approximately $285,000. Alyeska Investment Group L.P. bought a new stake in shares of Suncrete in the second quarter valued at approximately $78,044,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Suncrete in the second quarter valued at approximately $27,360,000. Institutional investors and hedge funds own 71.07% of the company’s stock.

Suncrete Trading Up 3.2%

Shares of NASDAQ:RMIX opened at $16.70 on Friday. The firm has a 50 day moving average price of $18.65. Suncrete has a 12 month low of $9.20 and a 12 month high of $25.50. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.23 billion, a PE ratio of -119.29 and a beta of 0.71.

Suncrete (NASDAQ:RMIX) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.70). The company had revenue of $97.23 million for the quarter, compared to analyst estimates of $104.93 million. The company’s revenue for the quarter was up 146.2% on a year-over-year basis. On average, research analysts predict that Suncrete will post -0.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on RMIX. Roth Capital initiated coverage on Suncrete in a research report on Thursday, May 14th. They set a “buy” rating and a $21.00 price target on the stock. B. Riley Financial reaffirmed a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of Suncrete in a report on Wednesday, August 19th. Weiss Ratings upgraded Suncrete from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Robert W. Baird assumed coverage on Suncrete in a report on Wednesday, May 27th. They set an “outperform” rating and a $21.00 target price on the stock. Finally, Jefferies Financial Group restated a “buy” rating and issued a $22.00 price target on shares of Suncrete in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $22.25.

About Suncrete

Haymaker Acquisition Corp. 4 is a blank check company. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other business combination with one or more businesses or entities. Haymaker Acquisition Corp. 4 is based in New York.