Custom Truck One Source (NYSE:CTOS) Shares Up 7.8% Following Insider Buying Activity

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) were up 7.8% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $5.08 and last traded at $5.16. Approximately 142,185 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 919,077 shares. The stock had previously closed at $4.78.

Specifically, major shareholder Pe One Source Holdings, Llc purchased 8,143,635 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average cost of $4.00 per share, with a total value of $32,574,540.00. Following the completion of the transaction, the insider now owns 156,743,635 shares of the company’s stock, valued at approximately $626,974,540. This represents a 5.48 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Separately, Oppenheimer dropped their target price on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th.

Custom Truck One Source Stock Up 7.2 %

The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -32.03 and a beta of 0.79. The business has a fifty day moving average of $5.08 and a 200 day moving average of $4.46.

Hedge Funds Weigh In On Custom Truck One Source

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTOS. JPMorgan Chase & Co. grew its stake in Custom Truck One Source by 939.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 492,411 shares of the company’s stock valued at $1,699,000 after buying an additional 445,038 shares during the last quarter. Barclays PLC boosted its holdings in Custom Truck One Source by 349.6% during the third quarter. Barclays PLC now owns 84,526 shares of the company’s stock valued at $291,000 after acquiring an additional 65,725 shares during the period. Black Diamond Financial LLC grew its position in shares of Custom Truck One Source by 906.8% in the third quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock valued at $4,923,000 after purchasing an additional 1,285,265 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Custom Truck One Source by 15.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,626 shares of the company’s stock worth $378,000 after purchasing an additional 14,906 shares during the period. Finally, FMR LLC lifted its position in shares of Custom Truck One Source by 1,234.8% during the 3rd quarter. FMR LLC now owns 28,846 shares of the company’s stock worth $100,000 after purchasing an additional 26,685 shares during the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

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).