272 Capital LP lowered its position in Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 415,489 shares of the company's stock after selling 74,253 shares during the quarter. Alta Equipment Group comprises about 1.4% of 272 Capital LP's portfolio, making the stock its 27th largest position. 272 Capital LP owned 1.25% of Alta Equipment Group worth $2,800,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Alta Equipment Group in the 3rd quarter valued at $77,000. Quest Partners LLC bought a new position in Alta Equipment Group in the second quarter worth approximately $80,000. The Manufacturers Life Insurance Company bought a new position in Alta Equipment Group in the second quarter worth approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Alta Equipment Group by 37.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company's stock worth $95,000 after purchasing an additional 3,218 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in Alta Equipment Group by 17.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,543 shares of the company's stock valued at $125,000 after purchasing an additional 2,777 shares in the last quarter. Institutional investors own 73.58% of the company's stock.
Alta Equipment Group Stock Down 1.2 %
Shares of ALTG stock traded down $0.09 during mid-day trading on Friday, hitting $7.38. 191,076 shares of the stock traded hands, compared to its average volume of 353,603. Alta Equipment Group Inc. has a 52-week low of $5.40 and a 52-week high of $13.67. The stock has a market cap of $245.43 million, a P/E ratio of -4.39 and a beta of 1.71. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43. The stock's fifty day moving average is $7.06 and its two-hundred day moving average is $7.58.
Alta Equipment Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.057 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.23 annualized dividend and a dividend yield of 3.09%. Alta Equipment Group's dividend payout ratio is presently -12.94%.
Wall Street Analysts Forecast Growth
ALTG has been the topic of a number of recent research reports. Raymond James dropped their price target on Alta Equipment Group from $10.00 to $9.00 and set a "market perform" rating on the stock in a research report on Thursday, November 14th. Northland Securities restated a "market perform" rating and issued a $20.00 price target (down previously from $30.00) on shares of Alta Equipment Group in a report on Wednesday, November 13th. Finally, Northland Capmk downgraded shares of Alta Equipment Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.75.
Read Our Latest Stock Analysis on ALTG
Insider Transactions at Alta Equipment Group
In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total transaction of $71,372.41. Following the sale, the insider now directly owns 963,689 shares of the company's stock, valued at $6,080,877.59. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 19.90% of the company's stock.
Alta Equipment Group Company Profile
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Free Report)
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.
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