Black Diamond Financial LLC Increases Stake in Custom Truck One Source, Inc. (NYSE:CTOS)

Black Diamond Financial LLC grew its holdings in Custom Truck One Source, Inc. (NYSE:CTOS) by 906.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,427,000 shares of the company’s stock after buying an additional 1,285,265 shares during the quarter. Black Diamond Financial LLC’s holdings in Custom Truck One Source were worth $4,923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in Custom Truck One Source by 190.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock worth $21,466,000 after buying an additional 3,234,586 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Custom Truck One Source by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 3,191,740 shares of the company’s stock valued at $18,576,000 after acquiring an additional 80,740 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Custom Truck One Source by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock valued at $9,770,000 after purchasing an additional 410,895 shares during the period. Clearbridge Investments LLC raised its stake in Custom Truck One Source by 2.1% during the first quarter. Clearbridge Investments LLC now owns 1,917,468 shares of the company’s stock worth $11,160,000 after purchasing an additional 38,575 shares during the period. Finally, Maven Securities LTD acquired a new position in Custom Truck One Source in the 2nd quarter valued at about $2,175,000. 90.07% of the stock is owned by hedge funds and other institutional investors.

Custom Truck One Source Stock Performance

NYSE CTOS opened at $5.10 on Friday. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87. The firm’s 50-day moving average is $3.74 and its two-hundred day moving average is $4.22. Custom Truck One Source, Inc. has a 12 month low of $3.03 and a 12 month high of $7.00.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The company had revenue of $447.22 million during the quarter, compared to analyst estimates of $448.46 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer cut 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 report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.63.

Insider Activity

In other news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $3.42, for a total value of $8,051,052.78. Following the sale, the insider now directly owns 23,384,879 shares in the company, valued at approximately $79,976,286.18. This trade represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Energy Capital Partners Manage sold 18,640 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $4.17, for a total value of $77,728.80. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

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).