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

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) shot up 7.8% during trading on Tuesday following insider buying activity. The stock traded as high as $5.08 and last traded at $5.16. 142,185 shares were traded during trading, a decline of 85% from the average session volume of 919,077 shares. The stock had previously closed at $4.78.

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

Analyst Ratings Changes

Separately, Oppenheimer lowered their target price on 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.

Custom Truck One Source Trading Up 7.2 %

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

Institutional Trading of Custom Truck One Source

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Custom Truck One Source by 939.4% during the third quarter. JPMorgan Chase & Co. now owns 492,411 shares of the company’s stock valued at $1,699,000 after acquiring an additional 445,038 shares during the period. Barclays PLC increased its stake in Custom Truck One Source by 349.6% during the 3rd quarter. Barclays PLC now owns 84,526 shares of the company’s stock valued at $291,000 after buying an additional 65,725 shares during the period. Black Diamond Financial LLC lifted its stake in shares of Custom Truck One Source by 906.8% in the 3rd quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock worth $4,923,000 after acquiring an additional 1,285,265 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Custom Truck One Source by 15.7% during 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 in the last quarter. Finally, FMR LLC lifted its position in Custom Truck One Source by 1,234.8% in the third 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 period. Institutional investors 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).