Alta Equipment Group Inc. (NYSE:ALTG) Shares Bought by Quantum Private Wealth LLC

Quantum Private Wealth LLC raised its position in Alta Equipment Group Inc. (NYSE:ALTG) by 17.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 74,580 shares of the company’s stock after buying an additional 10,830 shares during the quarter. Quantum Private Wealth LLC owned about 0.23% of Alta Equipment Group worth $923,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ALTG. Voss Capital LLC boosted its position in shares of Alta Equipment Group by 20.1% during the 4th quarter. Voss Capital LLC now owns 3,245,000 shares of the company’s stock worth $40,141,000 after purchasing an additional 543,500 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Alta Equipment Group by 52.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 245,468 shares of the company’s stock worth $2,960,000 after purchasing an additional 84,678 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Alta Equipment Group during the 3rd quarter worth $4,558,000. Millrace Asset Group Inc. boosted its position in shares of Alta Equipment Group by 62.3% during the 3rd quarter. Millrace Asset Group Inc. now owns 136,735 shares of the company’s stock worth $1,649,000 after purchasing an additional 52,493 shares in the last quarter. Finally, Register Financial Advisors LLC boosted its position in shares of Alta Equipment Group by 33.7% during the 4th quarter. Register Financial Advisors LLC now owns 188,730 shares of the company’s stock worth $2,335,000 after purchasing an additional 47,568 shares in the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alta Equipment Group

In other news, major shareholder Voss Capital, Llc bought 6,108 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was purchased at an average price of $10.65 per share, with a total value of $65,050.20. Following the purchase, the insider now owns 975,000 shares of the company’s stock, valued at approximately $10,383,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Voss Capital, Llc bought 6,108 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was purchased at an average price of $10.65 per share, with a total value of $65,050.20. Following the purchase, the insider now owns 975,000 shares of the company’s stock, valued at approximately $10,383,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Greenawalt sold 34,951 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.36, for a total transaction of $397,043.36. Following the completion of the transaction, the chief executive officer now directly owns 5,842,625 shares of the company’s stock, valued at approximately $66,372,220. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,816,886 shares of company stock valued at $31,011,780. 20.90% of the stock is owned by insiders.

Alta Equipment Group Price Performance

Shares of Alta Equipment Group stock traded up $0.04 on Wednesday, hitting $11.75. The company’s stock had a trading volume of 216,455 shares, compared to its average volume of 285,825. Alta Equipment Group Inc. has a 52-week low of $8.76 and a 52-week high of $17.98. The company has a quick ratio of 0.48, a current ratio of 1.32 and a debt-to-equity ratio of 4.40. The firm has a fifty day moving average price of $11.93 and a 200-day moving average price of $11.30. The company has a market capitalization of $385.52 million, a P/E ratio of 65.28 and a beta of 1.65.

Alta Equipment Group (NYSE:ALTG) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). Alta Equipment Group had a return on equity of 8.60% and a net margin of 0.47%. The business had revenue of $521.50 million during the quarter, compared to analysts’ expectations of $478.68 million. On average, equities research analysts expect that Alta Equipment Group Inc. will post 0.27 earnings per share for the current fiscal year.

Alta Equipment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a $0.057 dividend. This represents a $0.23 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, February 14th. Alta Equipment Group’s payout ratio is 127.78%.

Wall Street Analyst Weigh In

ALTG has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and set a $22.00 target price on shares of Alta Equipment Group in a research report on Friday, March 15th. B. Riley reiterated a “buy” rating and issued a $22.00 price objective (down from $25.00) on shares of Alta Equipment Group in a research report on Friday, March 15th.

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.