Foundry Partners LLC Sells 140,475 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Foundry Partners LLC trimmed its position in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 40.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 205,695 shares of the company's stock after selling 140,475 shares during the quarter. Foundry Partners LLC owned 0.62% of Alta Equipment Group worth $1,386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Nantahala Capital Management LLC boosted its holdings in Alta Equipment Group by 108.2% during the second quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company's stock worth $6,739,000 after buying an additional 435,713 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Alta Equipment Group by 460.1% in the second quarter. American Century Companies Inc. now owns 211,585 shares of the company's stock valued at $1,701,000 after purchasing an additional 173,810 shares in the last quarter. Register Financial Advisors LLC lifted its holdings in shares of Alta Equipment Group by 44.3% in the second quarter. Register Financial Advisors LLC now owns 335,702 shares of the company's stock valued at $2,699,000 after purchasing an additional 103,071 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of Alta Equipment Group by 64.1% in the first quarter. Ancora Advisors LLC now owns 262,919 shares of the company's stock valued at $3,405,000 after purchasing an additional 102,660 shares in the last quarter. Finally, JCP Investment Management LLC purchased a new stake in shares of Alta Equipment Group in the second quarter valued at about $721,000. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Alta Equipment Group Stock Performance

Shares of NYSE:ALTG traded up $0.40 during trading hours on Friday, hitting $7.91. 335,527 shares of the company's stock traded hands, compared to its average volume of 420,763. Alta Equipment Group Inc. has a 52 week low of $5.40 and a 52 week high of $13.67. 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 company's fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $7.71.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, November 15th. Alta Equipment Group's payout ratio is presently -13.53%.

Insider Activity at Alta Equipment Group

In other Alta Equipment Group news, major shareholder Voss Capital, Lp sold 11,311 shares of Alta Equipment Group 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 owns 963,689 shares in the company, valued at $6,080,877.59. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALTG. Northland Capmk downgraded shares of Alta Equipment Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 13th. DA Davidson cut their price objective on shares of Alta Equipment Group from $20.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th. Northland Securities reissued a "market perform" rating and issued a $20.00 price objective (down previously from $30.00) on shares of Alta Equipment Group in a research report on Wednesday, November 13th. Finally, Raymond James dropped their price target on shares of Alta Equipment Group from $10.00 to $9.00 and set a "market perform" rating for the company in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Alta Equipment Group has an average rating of "Hold" and an average price target of $15.75.

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.