Alta Equipment Group Inc. (NYSE:ALTG) Shares Acquired by Nantahala Capital Management LLC

Nantahala Capital Management LLC raised its holdings in Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 108.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 838,222 shares of the company's stock after purchasing an additional 435,713 shares during the period. Nantahala Capital Management LLC owned 2.53% of Alta Equipment Group worth $6,739,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ALTG. Quest Partners LLC purchased 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 position in shares of Alta Equipment Group in the second quarter valued at approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank raised 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 buying an additional 3,218 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Alta Equipment Group by 88.0% in the first quarter. EntryPoint Capital LLC now owns 8,419 shares of the company's stock valued at $109,000 after buying an additional 3,940 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Alta Equipment Group by 28.7% in the second quarter. Harbor Capital Advisors Inc. now owns 15,766 shares of the company's stock valued at $127,000 after buying an additional 3,518 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALTG. Raymond James reissued a "market perform" rating and issued a $10.00 price objective (down previously from $14.00) on shares of Alta Equipment Group in a research report on Friday, August 9th. 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.

Insider Transactions at Alta Equipment Group

In other Alta Equipment Group news, major shareholder Mill Road Capital Iii, L.P. acquired 179,414 shares of the company's stock in a transaction dated Wednesday, July 10th. The stock was bought at an average price of $8.05 per share, with a total value of $1,444,282.70. Following the completion of the transaction, the insider now directly owns 3,894,008 shares of the company's stock, valued at $31,346,764.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alta Equipment Group news, major shareholder Mill Road Capital Iii, L.P. acquired 179,414 shares of the company's stock in a transaction dated Wednesday, July 10th. The stock was bought at an average price of $8.05 per share, with a total value of $1,444,282.70. Following the completion of the transaction, the insider now directly owns 3,894,008 shares of the company's stock, valued at $31,346,764.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew P. Studdert acquired 10,000 shares of the company's stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $5.65 per share, with a total value of $56,500.00. Following the transaction, the director now directly owns 86,591 shares of the company's stock, valued at $489,239.15. The disclosure for this purchase can be found here. Insiders acquired 319,100 shares of company stock valued at $2,777,451 over the last 90 days. Corporate insiders own 19.90% of the company's stock.

Alta Equipment Group Trading Up 0.4 %

ALTG stock traded up $0.03 on Tuesday, hitting $6.77. 285,405 shares of the company were exchanged, compared to its average volume of 369,721. Alta Equipment Group Inc. has a twelve month low of $5.40 and a twelve month high of $13.67. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.37 and a quick ratio of 0.47. The business's fifty day moving average is $7.24 and its two-hundred day moving average is $9.15. The stock has a market capitalization of $224.41 million, a price-to-earnings ratio of -32.24 and a beta of 1.67.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate 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 company had revenue of $488.10 million for the quarter, compared to analyst estimates of $497.57 million. During the same period last year, the company posted $0.16 EPS. As a group, research analysts forecast that Alta Equipment Group Inc. will post -1.04 earnings per share for the current year.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a $0.057 dividend. This represents a $0.23 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Thursday, August 15th. Alta Equipment Group's payout ratio is currently -104.76%.

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.