Voss Capital, Lp Sells 11,311 Shares of Alta Equipment Group Inc. (NYSE:ALTG) Stock

Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) major shareholder Voss Capital, Lp sold 11,311 shares of the company'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 value of $71,372.41. Following the transaction, the insider now directly owns 963,689 shares of the company's stock, valued at $6,080,877.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Alta Equipment Group Stock Performance

ALTG stock traded up $0.10 on Friday, reaching $6.60. The company's stock had a trading volume of 283,873 shares, compared to its average volume of 353,652. Alta Equipment Group Inc. has a 52 week low of $5.40 and a 52 week high of $13.67. The company has a market capitalization of $218.41 million, a P/E ratio of -10.31 and a beta of 1.67. The firm has a fifty day moving average of $6.38 and a two-hundred day moving average of $8.14. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.37 and a quick ratio of 0.47.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.34). Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. The business had revenue of $488.10 million during the quarter, compared to the consensus estimate of $497.57 million. During the same period last year, the company earned $0.16 earnings per share. As a group, analysts predict that Alta Equipment Group Inc. will post -1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALTG has been the subject of several recent research reports. Raymond James reaffirmed a "market perform" rating and set a $10.00 target price (down from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th. DA Davidson lowered their target price on Alta Equipment Group from $20.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, August 13th.

Hedge Funds Weigh In On Alta Equipment Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Foundry Partners LLC boosted its stake in Alta Equipment Group by 24.3% during the 1st quarter. Foundry Partners LLC now owns 293,915 shares of the company's stock valued at $3,806,000 after purchasing an additional 57,515 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Alta Equipment Group by 38.3% during the 1st quarter. Russell Investments Group Ltd. now owns 191,063 shares of the company's stock valued at $2,474,000 after purchasing an additional 52,896 shares in the last quarter. American Century Companies Inc. boosted its stake in Alta Equipment Group by 460.1% during the 2nd 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. JCP Investment Management LLC bought a new position in Alta Equipment Group during the 2nd quarter valued at $721,000. Finally, Nantahala Capital Management LLC boosted its stake in Alta Equipment Group by 108.2% during the 2nd quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company's stock valued at $6,739,000 after purchasing an additional 435,713 shares in the last quarter. 73.58% of the stock is owned by institutional investors.

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.