Foundry Partners LLC Boosts Stock Position in Alta Equipment Group Inc. (NYSE:ALTG)

Foundry Partners LLC increased its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 15.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 236,400 shares of the company’s stock after purchasing an additional 31,490 shares during the quarter. Foundry Partners LLC owned approximately 0.73% of Alta Equipment Group worth $2,924,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ALTG. Quantum Private Wealth LLC boosted its stake in Alta Equipment Group by 17.0% during the fourth quarter. Quantum Private Wealth LLC now owns 74,580 shares of the company’s stock worth $923,000 after buying an additional 10,830 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Alta Equipment Group by 77.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,577 shares of the company’s stock worth $106,000 after buying an additional 3,740 shares during the last quarter. Voss Capital LLC boosted its stake in Alta Equipment Group by 20.1% during the fourth quarter. Voss Capital LLC now owns 3,245,000 shares of the company’s stock worth $40,141,000 after buying an additional 543,500 shares during the last quarter. Register Financial Advisors LLC boosted its stake in Alta Equipment Group by 33.7% during the fourth quarter. Register Financial Advisors LLC now owns 188,730 shares of the company’s stock worth $2,335,000 after buying an additional 47,568 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its stake in Alta Equipment Group by 5.2% during the third quarter. SkyView Investment Advisors LLC now owns 21,608 shares of the company’s stock worth $261,000 after buying an additional 1,067 shares during the last quarter. 73.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALTG. DA Davidson reissued a “buy” rating and set a $22.00 price objective on shares of Alta Equipment Group in a research note on Friday, March 15th. B. Riley reissued a “buy” rating and set a $22.00 price objective (down previously from $25.00) on shares of Alta Equipment Group in a research note on Friday, March 15th.

Alta Equipment Group Stock Performance

Shares of Alta Equipment Group stock opened at $11.43 on Tuesday. Alta Equipment Group Inc. has a 52 week low of $8.76 and a 52 week high of $17.98. The business’s fifty day simple moving average is $11.94 and its 200-day simple moving average is $11.30. The firm has a market cap of $375.02 million, a PE ratio of 63.50 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 1.32 and a debt-to-equity ratio of 4.40.

Alta Equipment Group (NYSE:ALTG) last posted its earnings results on Thursday, March 14th. The company reported ($0.08) earnings per share (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 firm had revenue of $521.50 million for the quarter, compared to analyst estimates of $478.68 million. Equities analysts forecast that Alta Equipment Group Inc. will post 0.27 earnings per share for the current year.

Alta Equipment Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.057 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.23 annualized dividend and a yield of 1.99%. Alta Equipment Group’s dividend payout ratio (DPR) is 127.78%.

Insiders Place Their Bets

In other Alta Equipment Group news, CFO Anthony Colucci sold 17,222 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $11.45, for a total transaction of $197,191.90. Following the sale, the chief financial officer now owns 156,609 shares in the company, valued at approximately $1,793,173.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Anthony Colucci sold 17,222 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $11.45, for a total value of $197,191.90. Following the transaction, the chief financial officer now owns 156,609 shares in the company, valued at approximately $1,793,173.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Greenawalt sold 34,951 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.36, for a total value of $397,043.36. Following the completion of the transaction, the chief executive officer now owns 5,842,625 shares in the company, valued at approximately $66,372,220. The disclosure for this sale can be found here. Insiders have sold a total of 2,816,886 shares of company stock worth $31,011,780 in the last quarter. 20.90% of the stock is owned by company insiders.

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.