AlphaQuest LLC Buys 48,303 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

AlphaQuest LLC boosted its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 4,768.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,316 shares of the company’s stock after purchasing an additional 48,303 shares during the quarter. AlphaQuest LLC owned about 0.15% of Alta Equipment Group worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mill Road Capital Management LLC boosted its holdings in shares of Alta Equipment Group by 18.2% in the 3rd quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock valued at $28,397,000 after buying an additional 650,214 shares in the last quarter. Paloma Partners Management Co purchased a new stake in Alta Equipment Group during the third quarter valued at approximately $2,646,000. GSA Capital Partners LLP lifted its position in Alta Equipment Group by 79.2% during the third quarter. GSA Capital Partners LLP now owns 176,227 shares of the company’s stock valued at $1,188,000 after acquiring an additional 77,887 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alta Equipment Group by 167.8% in the third quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock valued at $347,000 after acquiring an additional 32,218 shares in the last quarter. Finally, Barclays PLC grew its holdings in Alta Equipment Group by 302.8% in the third quarter. Barclays PLC now owns 38,327 shares of the company’s stock worth $258,000 after purchasing an additional 28,812 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James decreased their price objective on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Alta Equipment Group has an average rating of “Hold” and an average price target of $15.63.

Alta Equipment Group Stock Up 8.1 %

NYSE:ALTG opened at $5.30 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45. Alta Equipment Group Inc. has a twelve month low of $4.45 and a twelve month high of $13.67. The company has a market cap of $176.09 million, a PE ratio of -3.11 and a beta of 1.81. The company’s 50 day moving average is $6.54 and its two-hundred day moving average is $6.73.

Alta Equipment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were issued a dividend of $0.057 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Friday, February 14th. Alta Equipment Group’s dividend payout ratio (DPR) is presently -11.22%.

Insider Activity at Alta Equipment Group

In related news, COO Craig Brubaker sold 5,294 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total value of $26,470.00. Following the transaction, the chief operating officer now owns 98,640 shares in the company, valued at approximately $493,200. This represents a 5.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 19.90% of the stock is owned by insiders.

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.