Alta Equipment Group Inc. (NYSE:ALTG) Shares Purchased by Mill Road Capital Management LLC

Mill Road Capital Management LLC boosted its position in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 18.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,213,208 shares of the company's stock after acquiring an additional 650,214 shares during the period. Alta Equipment Group accounts for 13.5% of Mill Road Capital Management LLC's holdings, making the stock its biggest position. Mill Road Capital Management LLC owned 12.73% of Alta Equipment Group worth $28,397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Alta Equipment Group during the third quarter valued at $77,000. Quest Partners LLC acquired a new stake in shares of Alta Equipment Group in the second quarter valued at about $80,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Alta Equipment Group in the second quarter valued at about $89,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Alta Equipment Group by 37.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company's stock valued at $95,000 after purchasing an additional 3,218 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of Alta Equipment Group by 17.6% in the third 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. Hedge funds and other institutional investors own 73.58% of the company's stock.

Insider Activity at Alta Equipment Group

In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. DA Davidson decreased their price target on shares of Alta Equipment Group from $20.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, August 13th. 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 research note on Wednesday, November 13th. Raymond James decreased their price target on shares of Alta Equipment Group from $10.00 to $9.00 and set a "market perform" rating on the stock in a research note on Thursday, November 14th. 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.75.

Alta Equipment Group Trading Up 3.5 %

Shares of Alta Equipment Group stock traded up $0.27 on Wednesday, reaching $8.06. The company had a trading volume of 176,341 shares, compared to its average volume of 358,548. 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 firm has a market cap of $268.08 million, a PE ratio of -4.58 and a beta of 1.71. The firm's 50 day moving average price is $6.86 and its two-hundred day moving average price is $7.61. Alta Equipment Group Inc. has a 52-week low of $5.40 and a 52-week high of $13.67.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Friday, November 15th. Alta Equipment Group's dividend payout ratio (DPR) is currently -13.53%.

Alta Equipment Group Company 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.