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Savino Anthony, cofounder and Chief Construction Officer of Altus Power , Inc. (NYSE:AMPS), recently sold 28,024 shares of the company’s Class A common stock. This transaction, worth approximately $138,718, was executed at a price of $4.95 per share, close to the current market price of $4.96. The company, currently valued at $794 million, has seen its stock surge over 59% in the past six months. The sale was carried out to meet tax withholding obligations through a "sell to cover" transaction, as noted in the filing. Following this transaction, Anthony retains direct ownership of 4,060,207 shares in Altus Power. With impressive gross margins of 76.5% and analyst price targets ranging from $5.00 to $5.50, InvestingPro analysis reveals 12 additional key insights about the company’s financial health and valuation metrics.
In other recent news, Altus Power is set to transition to a private company following a definitive acquisition agreement with TPG Rise Climate, valued at approximately $2.2 billion, including debt. The acquisition price of $5.00 per share represents a 66% premium over Altus Power’s unaffected closing price in mid-October 2024. The company’s Board of Directors has unanimously approved the transaction, and stockholders representing about 40% of Altus Power’s Class A common stock have already agreed to support the merger. The completion of this deal is anticipated in the second quarter of 2025, pending stockholder approval and regulatory conditions.
Additionally, UBS recently downgraded Altus Power’s stock rating from Buy to Neutral, reflecting the expected stability in the stock’s value until the acquisition’s closure. UBS maintains the price target at $5.00 per share, aligning with the acquisition offer. In contrast, JPMorgan upgraded Altus Power’s rating from Underweight to Neutral, citing the takeover bid from TPG as reasonable given current market conditions. The firm also set a year-end 2025 price target of $5.00 for the stock. These developments highlight significant strategic shifts for Altus Power as it navigates its upcoming transition.
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