GSA Capital Partners LLP Buys 77,887 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

GSA Capital Partners LLP lifted its stake in Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 79.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 176,227 shares of the company's stock after acquiring an additional 77,887 shares during the period. GSA Capital Partners LLP owned 0.53% of Alta Equipment Group worth $1,188,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Meixler Investment Management Ltd. acquired a new stake in shares of Alta Equipment Group in the third quarter valued at about $178,000. Harbor Capital Advisors Inc. boosted its stake 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 during the period. SG Americas Securities LLC bought a new position in Alta Equipment Group in the 3rd quarter worth approximately $77,000. Nantahala Capital Management LLC lifted its holdings in shares of 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 during the last quarter. Finally, Ironwood Investment Management LLC bought a new stake in shares of Alta Equipment Group in the second quarter valued at approximately $158,000. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Alta Equipment Group Price Performance

NYSE ALTG traded down $0.15 during trading on Friday, reaching $6.99. 397,118 shares of the company traded hands, compared to its average volume of 361,744. Alta Equipment Group Inc. has a 1-year low of $5.40 and a 1-year high of $13.67. The company has a market cap of $231.30 million, a price-to-earnings ratio of -4.11 and a beta of 1.67. The stock's 50 day moving average price is $6.55 and its two-hundred day moving average price is $7.85. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.47 and a current ratio of 1.35.

Alta Equipment Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.057 dividend. This represents a $0.23 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Friday, November 15th. Alta Equipment Group's dividend payout ratio is -13.53%.

Insider Buying and Selling at Alta Equipment Group

In other news, major shareholder Voss Capital, Lp sold 11,311 shares of Alta Equipment Group stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total value of $71,372.41. Following the completion of the transaction, the insider now owns 963,689 shares in the company, valued at approximately $6,080,877.59. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 19.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALTG. Northland Securities reissued a "market perform" rating and issued a $20.00 price target (down from $30.00) on shares of Alta Equipment Group in a report on Wednesday. DA Davidson reduced their target price on shares of Alta Equipment Group from $20.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, August 13th. Raymond James lowered 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 note on Thursday. Finally, Northland Capmk downgraded Alta Equipment Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.75.

About Alta Equipment Group

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.