Liberty Mutual Group Asset Management Inc. Sells 79,876 Shares of Altus Power, Inc. (NYSE:AMPS)

Liberty Mutual Group Asset Management Inc. lowered its stake in shares of Altus Power, Inc. (NYSE:AMPS) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,920,124 shares of the company’s stock after selling 79,876 shares during the quarter. Altus Power makes up approximately 1.7% of Liberty Mutual Group Asset Management Inc.’s holdings, making the stock its 5th largest position. Liberty Mutual Group Asset Management Inc.’s holdings in Altus Power were worth $11,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC grew its position in Altus Power by 1.2% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,628,613 shares of the company’s stock worth $18,144,000 after purchasing an additional 53,031 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Altus Power by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,974,269 shares of the company’s stock worth $11,662,000 after buying an additional 807,071 shares in the last quarter. Swedbank AB acquired a new stake in Altus Power in the 1st quarter valued at approximately $12,589,000. Skandinaviska Enskilda Banken AB publ raised its stake in Altus Power by 112.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,411,042 shares of the company’s stock valued at $5,531,000 after acquiring an additional 745,810 shares in the last quarter. Finally, Long Focus Capital Management LLC boosted its position in Altus Power by 427.6% during the 2nd quarter. Long Focus Capital Management LLC now owns 549,081 shares of the company’s stock worth $2,152,000 after acquiring an additional 445,000 shares during the period. 46.55% of the stock is currently owned by institutional investors.

Altus Power Stock Up 4.7 %

Shares of Altus Power stock opened at $3.25 on Friday. Altus Power, Inc. has a 1 year low of $2.80 and a 1 year high of $7.28. The company has a market cap of $521.76 million, a P/E ratio of -64.89 and a beta of 0.96. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.18. The stock has a 50-day moving average price of $3.40 and a 200 day moving average price of $3.99.

Altus Power (NYSE:AMPS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Altus Power had a net margin of 13.55% and a return on equity of 2.52%. The business had revenue of $52.46 million during the quarter, compared to analyst estimates of $57.61 million. As a group, analysts expect that Altus Power, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMPS has been the subject of several research analyst reports. Maxim Group reduced their price objective on shares of Altus Power from $5.50 to $4.50 and set a “buy” rating for the company in a report on Monday, August 12th. Morgan Stanley cut Altus Power from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $8.00 to $4.00 in a research report on Wednesday, August 21st. Roth Mkm cut their price objective on Altus Power from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday, August 9th. UBS Group reduced their target price on shares of Altus Power from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Seaport Res Ptn upgraded Altus Power to a “strong-buy” rating in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $6.00.

Altus Power 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.