ABS Direct Equity Fund LLC Takes Position in Alta Equipment Group Inc. (NYSE:ALTG)

ABS Direct Equity Fund LLC purchased a new stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 220,000 shares of the company’s stock, valued at approximately $2,721,000. Alta Equipment Group comprises about 2.6% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its 11th biggest holding. ABS Direct Equity Fund LLC owned approximately 0.68% of Alta Equipment Group as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. SkyView Investment Advisors LLC increased its stake in shares of Alta Equipment Group by 5.2% in the third quarter. SkyView Investment Advisors LLC now owns 21,608 shares of the company’s stock worth $261,000 after purchasing an additional 1,067 shares in the last quarter. Jump Financial LLC lifted its position in shares of Alta Equipment Group by 11.6% in the third quarter. Jump Financial LLC now owns 19,681 shares of the company’s stock valued at $237,000 after acquiring an additional 2,051 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Alta Equipment Group by 22.6% in the third quarter. Commonwealth Equity Services LLC now owns 15,092 shares of the company’s stock worth $182,000 after acquiring an additional 2,787 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 purchasing an additional 3,740 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Alta Equipment Group by 9.4% during the third quarter. New York State Common Retirement Fund now owns 81,217 shares of the company’s stock worth $979,000 after purchasing an additional 7,007 shares in the last quarter. 73.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Alta Equipment Group Trading Up 1.2 %

Shares of NYSE:ALTG traded up $0.14 on Friday, hitting $11.69. 236,273 shares of the company’s stock were exchanged, compared to its average volume of 207,876. The stock has a market capitalization of $383.55 million, a price-to-earnings ratio of 64.94 and a beta of 1.67. Alta Equipment Group Inc. has a 12 month low of $8.76 and a 12 month high of $17.98. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.32 and a quick ratio of 0.48. The business’s 50 day simple moving average is $11.90 and its two-hundred day simple moving average is $11.31.

Alta Equipment Group (NYSE:ALTG) last issued its earnings results on Thursday, March 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company had revenue of $521.50 million for the quarter, compared to analysts’ expectations of $478.68 million. Alta Equipment Group had a return on equity of 8.60% and a net margin of 0.47%. Analysts anticipate that Alta Equipment Group Inc. will post 0.12 EPS for the current fiscal year.

Alta Equipment Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a $0.057 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.23 annualized dividend and a dividend yield of 1.95%. Alta Equipment Group’s dividend payout ratio is currently 127.78%.

Insider Transactions at Alta Equipment Group

In other news, CFO Anthony Colucci sold 17,222 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.45, for a total value of $197,191.90. Following the completion of the transaction, the chief financial officer now directly owns 156,609 shares of the company’s stock, valued at approximately $1,793,173.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alta Equipment Group news, COO Craig Brubaker sold 7,405 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $11.77, for a total value of $87,156.85. Following the completion of the sale, the chief operating officer now directly owns 95,077 shares in the company, valued at $1,119,056.29. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anthony Colucci sold 17,222 shares of Alta Equipment Group stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.45, for a total transaction of $197,191.90. Following the completion of the transaction, the chief financial officer now directly owns 156,609 shares in the company, valued at $1,793,173.05. 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. Company insiders own 20.90% of the company’s stock.

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.