Paloma Partners Management Co Takes $2.65 Million Position in Alta Equipment Group Inc. (NYSE:ALTG)

Paloma Partners Management Co purchased a new stake in Alta Equipment Group Inc. (NYSE:ALTG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 392,633 shares of the company's stock, valued at approximately $2,646,000. Paloma Partners Management Co owned about 1.19% of Alta Equipment Group at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ALTG. American Century Companies Inc. grew its position in Alta Equipment Group by 460.1% in the 2nd quarter. American Century Companies Inc. now owns 211,585 shares of the company's stock worth $1,701,000 after purchasing an additional 173,810 shares in the last quarter. JCP Investment Management LLC purchased a new position in shares of Alta Equipment Group in the 2nd quarter worth approximately $721,000. Nantahala Capital Management LLC increased its position in shares of 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 during the last quarter. Janus Henderson Group PLC raised its stake in shares of Alta Equipment Group by 237.0% during the 1st quarter. Janus Henderson Group PLC now owns 50,957 shares of the company's stock worth $660,000 after purchasing an additional 35,838 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Alta Equipment Group in the 2nd quarter worth about $80,000. Hedge funds and other institutional investors own 73.58% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on ALTG shares. Northland Securities reaffirmed 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. Raymond James reduced their price objective on Alta Equipment Group from $10.00 to $9.00 and set a "market perform" rating for the company in a report on Thursday, November 14th. Northland Capmk lowered Alta Equipment Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Finally, DA Davidson cut their price target on 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Alta Equipment Group currently has an average rating of "Hold" and a consensus target price of $15.75.

Alta Equipment Group Stock Performance

Shares of NYSE:ALTG traded up $0.06 during trading on Monday, hitting $7.97. 102,509 shares of the company were exchanged, compared to its average volume of 359,019. The company has a market cap of $265.05 million, a PE ratio of -4.66 and a beta of 1.67. 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 current ratio of 1.35 and a quick ratio of 0.43. The stock has a 50 day moving average of $6.80 and a 200 day moving average of $7.62.

Alta Equipment Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.057 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.23 dividend on an annualized basis and a yield of 2.86%. Alta Equipment Group's dividend payout ratio is presently -12.94%.

Insider Buying and Selling 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 value of $71,372.41. Following the completion of the sale, the insider now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 19.90% of the company's stock.

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.