Portolan Capital Management LLC Invests $5.56 Million in Alta Equipment Group Inc. (NYSE:ALTG)

Portolan Capital Management LLC purchased a new position in Alta Equipment Group Inc. (NYSE:ALTG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 850,309 shares of the company's stock, valued at approximately $5,561,000. Portolan Capital Management LLC owned approximately 2.56% of Alta Equipment Group at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in Alta Equipment Group in the fourth quarter valued at about $79,000. Wells Fargo & Company MN grew its position in Alta Equipment Group by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,533 shares of the company's stock valued at $82,000 after buying an additional 4,272 shares during the period. SG Americas Securities LLC increased its holdings in Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company's stock valued at $90,000 after buying an additional 2,375 shares during the last quarter. Quantinno Capital Management LP bought a new position in Alta Equipment Group in the third quarter worth approximately $160,000. Finally, Meixler Investment Management Ltd. boosted its stake in shares of Alta Equipment Group by 25.4% during the 4th quarter. Meixler Investment Management Ltd. now owns 33,192 shares of the company's stock worth $217,000 after acquiring an additional 6,717 shares during the last quarter. 73.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on ALTG shares. Raymond James decreased their target price on Alta Equipment Group from $9.00 to $8.50 and set a "market perform" rating on the stock in a report on Monday, March 10th. B. Riley initiated coverage on Alta Equipment Group in a research note on Thursday, March 27th. They set a "buy" rating and a $10.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.63.

Insider Buying and Selling

In related news, COO Craig Brubaker sold 5,294 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the sale, the chief operating officer now directly owns 98,640 shares in the company, valued at approximately $493,200. The trade was a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.90% of the stock is owned by company insiders.

Alta Equipment Group Price Performance

Shares of Alta Equipment Group stock traded up $0.15 during trading hours on Friday, hitting $4.19. The company's stock had a trading volume of 111,599 shares, compared to its average volume of 317,616. The company has a market cap of $137.52 million, a PE ratio of -2.46 and a beta of 1.55. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. The business has a 50 day moving average price of $5.18 and a two-hundred day moving average price of $6.38. Alta Equipment Group Inc. has a 12-month low of $3.54 and a 12-month high of $12.09.

Alta Equipment Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were issued a $0.057 dividend. This represents a $0.23 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Friday, February 14th. Alta Equipment Group's dividend payout ratio (DPR) is presently -11.22%.

Alta Equipment Group Profile

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.