Levin Capital Strategies L.P. Takes Position in Altus Power, Inc. (NYSE:AMPS)

Levin Capital Strategies L.P. acquired a new stake in Altus Power, Inc. (NYSE:AMPS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,000 shares of the company’s stock, valued at approximately $122,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AMPS. abrdn plc increased its stake in shares of Altus Power by 8.7% in the third quarter. abrdn plc now owns 1,444,400 shares of the company’s stock valued at $4,593,000 after buying an additional 115,300 shares during the period. HTG Investment Advisors Inc. increased its stake in shares of Altus Power by 8.6% in the third quarter. HTG Investment Advisors Inc. now owns 65,148 shares of the company’s stock valued at $207,000 after buying an additional 5,148 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Altus Power in the third quarter valued at approximately $286,000. Intech Investment Management LLC acquired a new position in shares of Altus Power in the third quarter valued at approximately $86,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Altus Power by 4.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 312,205 shares of the company’s stock valued at $993,000 after buying an additional 14,492 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gregg J. Felton sold 71,161 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $349,400.51. Following the transaction, the chief executive officer now directly owns 4,023,696 shares in the company, valued at $19,756,347.36. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony Savino sold 8,823 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $4.91, for a total value of $43,320.93. Following the completion of the transaction, the insider now owns 4,088,231 shares in the company, valued at approximately $20,073,214.21. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,146 shares of company stock worth $437,707. Corporate insiders own 24.30% of the company’s stock.

Altus Power Price Performance

Altus Power stock opened at $4.93 on Monday. The stock has a market capitalization of $791.92 million, a price-to-earnings ratio of 22.39 and a beta of 1.05. Altus Power, Inc. has a 52-week low of $2.71 and a 52-week high of $7.01. The stock’s 50 day moving average price is $4.30 and its two-hundred day moving average price is $3.75. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.60.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMPS. B. Riley downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and decreased their target price for the company from $6.00 to $5.00 in a research report on Friday, February 7th. UBS Group downgraded shares of Altus Power from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research report on Monday, February 10th. JPMorgan Chase & Co. raised shares of Altus Power from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Thursday, February 6th. Finally, Seaport Res Ptn downgraded shares of Altus Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.06.

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.