Alliancebernstein L.P. Sells 97,503 Shares of Altus Power, Inc. (NYSE:AMPS)

Alliancebernstein L.P. lessened its holdings in Altus Power, Inc. (NYSE:AMPS - Free Report) by 38.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,610 shares of the company's stock after selling 97,503 shares during the quarter. Alliancebernstein L.P. owned 0.10% of Altus Power worth $629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMPS. State Street Corp grew its holdings in shares of Altus Power by 0.6% in the 3rd quarter. State Street Corp now owns 3,682,864 shares of the company's stock worth $11,712,000 after purchasing an additional 21,312 shares during the last quarter. abrdn plc grew its stake in Altus Power by 7.3% during the fourth quarter. abrdn plc now owns 1,550,200 shares of the company's stock worth $6,418,000 after buying an additional 105,800 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Altus Power by 48.1% in the fourth quarter. Bank of New York Mellon Corp now owns 267,220 shares of the company's stock valued at $1,088,000 after acquiring an additional 86,797 shares during the last quarter. Barclays PLC raised its stake in shares of Altus Power by 312.8% in the third quarter. Barclays PLC now owns 115,987 shares of the company's stock valued at $369,000 after acquiring an additional 87,886 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in shares of Altus Power by 59.3% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 99,181 shares of the company's stock worth $404,000 after acquiring an additional 36,911 shares in the last quarter. 46.55% of the stock is owned by institutional investors.

Insider Activity

In other Altus Power news, insider Anthony Savino sold 8,823 shares of Altus Power stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $4.91, for a total value of $43,320.93. Following the transaction, the insider now owns 4,088,231 shares of the company's stock, valued at approximately $20,073,214.21. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dustin Weber sold 9,162 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 transaction of $44,985.42. Following the sale, the chief financial officer now directly owns 2,002,611 shares of the company's stock, valued at $9,832,820.01. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,422 shares of company stock valued at $1,093,796 in the last quarter. Company insiders own 24.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Seaport Res Ptn downgraded Altus Power from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. B. Riley cut Altus Power from a "buy" rating to a "neutral" rating and cut their price target for the company from $6.00 to $5.00 in a report on Friday, February 7th. UBS Group lowered shares of Altus Power from a "buy" rating to a "neutral" rating and set a $5.00 price objective on the stock. in a report on Monday, February 10th. Roth Mkm reaffirmed a "neutral" rating and issued a $5.00 target price on shares of Altus Power in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. raised shares of Altus Power from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a research note on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $5.13.

Altus Power Trading Down 0.1 %

NYSE AMPS traded down $0.01 on Wednesday, reaching $5.00. The company had a trading volume of 5,274,621 shares, compared to its average volume of 1,755,005. Altus Power, Inc. has a 52 week low of $2.71 and a 52 week high of $5.50. The stock's 50 day moving average is $4.95 and its 200-day moving average is $4.23. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.10. The stock has a market cap of $801.30 million, a price-to-earnings ratio of 22.70 and a beta of 0.94.

Altus Power (NYSE:AMPS - Get Free Report) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). The firm had revenue of $44.47 million during the quarter, compared to analyst estimates of $46.64 million. Altus Power had a net margin of 19.18% and a return on equity of 4.79%. Equities analysts predict that Altus Power, Inc. will post 0.14 earnings per share for the current year.

About Altus Power

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.