AlphaQuest LLC Buys 48,303 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

AlphaQuest LLC lifted its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 4,768.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,316 shares of the company's stock after purchasing an additional 48,303 shares during the quarter. AlphaQuest LLC owned 0.15% of Alta Equipment Group worth $323,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALTG. Mill Road Capital Management LLC lifted its holdings in shares of Alta Equipment Group by 18.2% in the third quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company's stock worth $28,397,000 after buying an additional 650,214 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Alta Equipment Group by 20.8% in the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company's stock worth $90,000 after purchasing an additional 2,375 shares during the period. JPMorgan Chase & Co. raised its position in shares of Alta Equipment Group by 167.8% in the third quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company's stock worth $347,000 after buying an additional 32,218 shares in the last quarter. Paloma Partners Management Co bought a new stake in Alta Equipment Group during the third quarter valued at $2,646,000. Finally, Barclays PLC grew its position in Alta Equipment Group by 302.8% during the third quarter. Barclays PLC now owns 38,327 shares of the company's stock worth $258,000 after buying an additional 28,812 shares in the last quarter. Hedge funds and other institutional investors own 73.58% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, Raymond James dropped their price target on Alta Equipment Group from $9.00 to $8.50 and set a "market perform" rating for the company in a research report on Monday, March 10th.

Alta Equipment Group Price Performance

ALTG traded down $0.14 during trading on Tuesday, reaching $5.17. The stock had a trading volume of 188,521 shares, compared to its average volume of 314,543. 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 of $6.51 and a 200-day moving average of $6.72. Alta Equipment Group Inc. has a one year low of $4.45 and a one year high of $13.67. The stock has a market cap of $171.77 million, a PE ratio of -3.04 and a beta of 1.81.

Alta Equipment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were issued a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Friday, February 14th. Alta Equipment Group's dividend payout ratio is currently -11.22%.

Insiders Place Their Bets

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of Alta Equipment Group stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the transaction, the chief operating officer now directly owns 98,640 shares of the company's stock, valued at $493,200. The trade was a 5.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.90% of the stock is currently owned by insiders.

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.