SG Americas Securities LLC Acquires 104,994 Shares of Altus Power, Inc. (NYSE:AMPS)

SG Americas Securities LLC boosted its holdings in shares of Altus Power, Inc. (NYSE:AMPS) by 291.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 141,052 shares of the company’s stock after purchasing an additional 104,994 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Altus Power worth $698,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMPS. Encompass Capital Advisors LLC boosted its holdings in Altus Power by 20.0% during the 4th quarter. Encompass Capital Advisors LLC now owns 8,027,318 shares of the company’s stock valued at $32,671,000 after acquiring an additional 1,336,044 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Altus Power by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,648,599 shares of the company’s stock valued at $14,850,000 after acquiring an additional 263,393 shares during the period. Legal & General Group Plc boosted its holdings in Altus Power by 1.4% during the 4th quarter. Legal & General Group Plc now owns 1,905,722 shares of the company’s stock valued at $7,756,000 after acquiring an additional 26,760 shares during the period. Geode Capital Management LLC boosted its holdings in Altus Power by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,564,740 shares of the company’s stock valued at $6,370,000 after acquiring an additional 10,450 shares during the period. Finally, Northern Trust Corp boosted its holdings in Altus Power by 1.2% during the 4th quarter. Northern Trust Corp now owns 686,539 shares of the company’s stock valued at $2,794,000 after acquiring an additional 7,888 shares during the period. Institutional investors own 46.55% of the company’s stock.

Insiders Place Their Bets

In related news, insider Anthony Savino sold 29,748 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $4.96, for a total value of $147,550.08. Following the completion of the sale, the insider now directly owns 4,030,459 shares in the company, valued at approximately $19,991,076.64. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregg J. Felton sold 87,048 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $4.96, for a total value of $431,758.08. Following the completion of the sale, the chief executive officer now directly owns 3,852,712 shares of the company’s stock, valued at approximately $19,109,451.52. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,276 shares of company stock valued at $656,089 in the last quarter. 24.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMPS has been the subject of several research reports. Roth Mkm reiterated a “neutral” rating and issued a $5.00 target price on shares of Altus Power in a report on Friday, March 21st. Roth Capital cut Altus Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Altus Power presently has an average rating of “Hold” and a consensus target price of $4.86.

Altus Power Stock Performance

NYSE AMPS opened at $5.00 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. The business’s 50 day moving average is $4.99 and its two-hundred day moving average is $4.64. Altus Power, Inc. has a 12-month low of $2.71 and a 12-month high of $5.00. The stock has a market capitalization of $801.30 million, a price-to-earnings ratio of 22.70 and a beta of 0.94.

Altus Power Company Profile

Altus Power, Inc, a clean electrification company, develops, owns, constructs, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. Altus Power, Inc was founded in 2013 and is headquartered in Stamford, Connecticut.