Voss Capital LP Sells 80,000 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Voss Capital LP decreased its position in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,915,000 shares of the company's stock after selling 80,000 shares during the quarter. Alta Equipment Group makes up about 1.4% of Voss Capital LP's holdings, making the stock its 22nd largest position. Voss Capital LP owned 8.76% of Alta Equipment Group worth $19,064,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ALTG. Intech Investment Management LLC acquired a new stake in shares of Alta Equipment Group during the 4th quarter valued at approximately $79,000. Wells Fargo & Company MN increased its holdings in Alta Equipment Group by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,533 shares of the company's stock worth $82,000 after buying an additional 4,272 shares during the last quarter. SG Americas Securities LLC grew its holdings in Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company's stock valued at $90,000 after purchasing an additional 2,375 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Alta Equipment Group by 49.4% in the fourth quarter. MetLife Investment Management LLC now owns 20,313 shares of the company's stock valued at $133,000 after acquiring an additional 6,716 shares during the period. Finally, Meixler Investment Management Ltd. increased its holdings in Alta Equipment Group by 25.4% in the 4th quarter. Meixler Investment Management Ltd. now owns 33,192 shares of the company's stock valued at $217,000 after buying an additional 6,717 shares during the period. Institutional investors and hedge funds own 73.58% of the company's stock.

Alta Equipment Group Price Performance

Shares of NYSE ALTG traded down $0.06 during mid-day trading on Friday, hitting $4.46. 125,046 shares of the stock traded hands, compared to its average volume of 206,959. Alta Equipment Group Inc. has a twelve month low of $3.54 and a twelve month high of $12.09. The firm has a 50 day simple moving average of $4.92 and a two-hundred day simple moving average of $6.32. 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 company has a market cap of $146.56 million, a PE ratio of -2.62 and a beta of 1.55.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were issued a $0.057 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.23 dividend on an annualized basis and a yield of 5.11%. Alta Equipment Group's dividend payout ratio (DPR) is presently -11.22%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALTG. Raymond James dropped their target price on shares of Alta Equipment Group from $9.00 to $8.50 and set a "market perform" rating for the company in a research report on Monday, March 10th. B. Riley initiated coverage on shares of Alta Equipment Group in a report on Thursday, March 27th. They issued a "buy" rating and a $10.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Alta Equipment Group currently has an average rating of "Moderate Buy" and a consensus target price of $12.63.

Insider Buying and Selling at Alta Equipment Group

In other news, COO Craig Brubaker sold 5,294 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total transaction of $26,470.00. Following the transaction, the chief operating officer now owns 98,640 shares of the company's stock, valued at $493,200. This represents a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 19.90% of the company's stock.

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.