Michael Gordon Buys 5,000 Shares of Altus Group (TSE:AIF) Stock

Key Points

• Director Michael Gordon purchased 5,000 Altus Group shares at an average price of C$44.36, investing C$221,800 and increasing his direct ownership by 11.92% to 46,940 shares.
• Altus Group shares fell 0.6% to C$44.42, while the company reported C$112.67 million in quarterly revenue and C$0.53 EPS. The company remains unprofitable, with a negative net margin of 5.32%.
• Analysts have an average “Hold” rating and a consensus price target of C$55.64. Altus Group also maintains a quarterly dividend of C$0.15, equivalent to a 1.4% annual yield.

Altus Group Limited (TSE:AIF - Get Free Report) Director Michael Gordon purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was acquired at an average cost of C$44.36 per share, with a total value of C$221,800.00. Following the completion of the acquisition, the director directly owned 46,940 shares of the company's stock, valued at C$2,082,258.40. This represents a 11.92% increase in their ownership of the stock.

Altus Group Stock Down 0.6%

AIF stock traded down C$0.27 during midday trading on Wednesday, reaching C$44.42. 53,738 shares of the company were exchanged, compared to its average volume of 205,703. The company has a debt-to-equity ratio of 83.44, a quick ratio of 1.30 and a current ratio of 1.09. Altus Group Limited has a 1-year low of C$36.97 and a 1-year high of C$63.07. The stock's 50-day simple moving average is C$46.75 and its 200 day simple moving average is C$46.09. The company has a market cap of C$1.52 billion, a price-to-earnings ratio of -108.34, a price-to-earnings-growth ratio of 0.96 and a beta of 0.46.

Altus Group (TSE:AIF - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$0.53 earnings per share (EPS) for the quarter. The business had revenue of C$112.67 million during the quarter. Altus Group had a negative net margin of 5.32% and a negative return on equity of 5.13%. On average, equities analysts forecast that Altus Group Limited will post 1.7263823 earnings per share for the current year.

Altus Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. Altus Group's dividend payout ratio is -146.34%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BMO Capital Markets raised their price target on Altus Group from C$41.00 to C$50.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. ATB Cormark Capital Markets increased their price objective on Altus Group from C$56.00 to C$57.10 and gave the company an "outperform" rating in a report on Friday, August 7th. Finally, National Bank Financial lifted their target price on shares of Altus Group from C$41.00 to C$50.00 and gave the company a "sector perform" rating in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of C$55.64.

About Altus Group

Altus Group Ltd operates in the Canadian real estate sector. Its services can be summed up as advisory services, software and data solutions to the property and real estate industry. The company has three reportable segments namely Altus Analytics, Commercial Real Estate Consulting, and Geomatics. It generates maximum revenue from the Commercial Real Estate Consulting segment. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.

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