Paloma Partners Management Co Boosts Stake in Custom Truck One Source, Inc. (NYSE:CTOS)

Paloma Partners Management Co increased its holdings in Custom Truck One Source, Inc. (NYSE:CTOS) by 17.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 256,146 shares of the company’s stock after buying an additional 38,242 shares during the period. Paloma Partners Management Co’s holdings in Custom Truck One Source were worth $884,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. bought a new position in Custom Truck One Source in the 2nd quarter valued at $47,000. Intech Investment Management LLC purchased a new position in shares of Custom Truck One Source in the 3rd quarter worth about $56,000. SG Americas Securities LLC bought a new position in Custom Truck One Source during the third quarter valued at about $64,000. Cetera Advisors LLC bought a new stake in Custom Truck One Source in the first quarter worth about $68,000. Finally, First Merchants Corp bought a new stake in Custom Truck One Source in the second quarter worth about $87,000. 90.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $3.42, for a total value of $8,051,052.78. Following the transaction, the insider now owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. This represents a 9.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Oppenheimer decreased their price target on shares of Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.63.

Custom Truck One Source Trading Down 3.2 %

Shares of Custom Truck One Source stock opened at $5.79 on Tuesday. The company’s 50-day moving average price is $4.16 and its 200-day moving average price is $4.30. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87. Custom Truck One Source, Inc. has a 12-month low of $3.03 and a 12-month high of $7.00. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -36.44 and a beta of 0.61.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The firm had revenue of $447.22 million during the quarter, compared to the consensus estimate of $448.46 million. Custom Truck One Source had a negative net margin of 2.22% and a negative return on equity of 4.57%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. On average, equities analysts expect that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

About Custom Truck One Source

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).