Alta Equipment Group Inc. (NYSE:ALTG) Director Acquires $56,500.00 in Stock

Alta Equipment Group Inc. (NYSE:ALTG) Director Andrew P. Studdert purchased 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $5.65 per share, for a total transaction of $56,500.00. Following the purchase, the director now directly owns 86,591 shares in the company, valued at approximately $489,239.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alta Equipment Group Stock Down 0.3 %

ALTG stock opened at $6.02 on Friday. The firm’s fifty day moving average is $8.70 and its 200 day moving average is $10.22. The company has a debt-to-equity ratio of 4.93, a quick ratio of 0.43 and a current ratio of 1.30. Alta Equipment Group Inc. has a one year low of $5.40 and a one year high of $14.73. The firm has a market cap of $199.54 million, a PE ratio of -28.67 and a beta of 1.69.

Alta Equipment Group (NYSE:ALTG) last announced its earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). Alta Equipment Group had a negative net margin of 0.21% and a negative return on equity of 0.35%. The business had revenue of $488.10 million for the quarter, compared to analysts’ expectations of $497.57 million. During the same quarter last year, the business earned $0.16 EPS. On average, research analysts forecast that Alta Equipment Group Inc. will post -0.23 EPS for the current year.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be issued a $0.057 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.23 dividend on an annualized basis and a yield of 3.79%. Alta Equipment Group’s payout ratio is -104.76%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALTG. Quadrant Capital Group LLC boosted its position in shares of Alta Equipment Group by 1,997.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,063 shares of the company’s stock valued at $38,000 after acquiring an additional 2,917 shares during the last quarter. AJOVista LLC purchased a new stake in shares of Alta Equipment Group in the 4th quarter valued at approximately $59,000. EntryPoint Capital LLC raised its position in shares of Alta Equipment Group by 88.0% during the 1st quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock valued at $109,000 after buying an additional 3,940 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Alta Equipment Group by 77.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,577 shares of the company’s stock valued at $106,000 after buying an additional 3,740 shares during the period. Finally, Quest Partners LLC purchased a new position in Alta Equipment Group in the second quarter worth approximately $80,000. 73.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Raymond James reissued a “market perform” rating and set a $10.00 price objective (down from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th. DA Davidson dropped their price target on Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday.

Alta Equipment Group Company 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.