Alta Equipment Group (NYSE:ALTG) Director Daniel Shribman Buys 40,000 Shares

Alta Equipment Group Inc. (NYSE:ALTG) Director Daniel Shribman bought 40,000 shares of Alta Equipment Group stock in a transaction on Monday, December 8th. The shares were acquired at an average price of $5.07 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the director owned 131,393 shares of the company’s stock, valued at approximately $666,162.51. This represents a 43.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Alta Equipment Group Trading Up 5.5%

Shares of Alta Equipment Group stock traded up $0.29 during trading hours on Wednesday, hitting $5.43. The company’s stock had a trading volume of 638,496 shares, compared to its average volume of 218,916. The company has a market capitalization of $174.87 million, a PE ratio of -2.16 and a beta of 1.57. The company has a debt-to-equity ratio of 257.10, a current ratio of 1.42 and a quick ratio of 0.49. The stock has a 50 day moving average of $5.63 and a 200 day moving average of $6.65. Alta Equipment Group Inc. has a 12 month low of $3.54 and a 12 month high of $8.99.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($1.04). The business had revenue of $422.60 million during the quarter, compared to analyst estimates of $456.68 million. Alta Equipment Group had a negative net margin of 4.34% and a negative return on equity of 175.61%. Analysts predict that Alta Equipment Group Inc. will post -1.92 earnings per share for the current year.

Institutional Investors Weigh In On Alta Equipment Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Alta Equipment Group during the second quarter worth $35,000. Farther Finance Advisors LLC lifted its stake in Alta Equipment Group by 1,279.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,806 shares of the company’s stock valued at $37,000 after purchasing an additional 5,385 shares during the last quarter. R Squared Ltd bought a new position in Alta Equipment Group during the third quarter worth about $79,000. Centiva Capital LP acquired a new position in Alta Equipment Group during the third quarter worth approximately $83,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Alta Equipment Group in the third quarter valued at approximately $83,000. Institutional investors own 73.58% of the company’s stock.

Wall Street Analysts Forecast Growth

ALTG has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alta Equipment Group in a research report on Monday. DA Davidson cut their price target on Alta Equipment Group from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Wall Street Zen cut Alta Equipment Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Zacks Research lowered Alta Equipment Group from a “hold” rating to a “strong sell” rating in a research report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

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.