Alta Equipment Group (NYSE:ALTG) CFO Anthony Colucci Sells 8,137 Shares

Alta Equipment Group Inc. (NYSE:ALTG) CFO Anthony Colucci sold 8,137 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $7.05, for a total transaction of $57,365.85. Following the transaction, the chief financial officer owned 240,750 shares of the company’s stock, valued at approximately $1,697,287.50. The trade was a 3.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alta Equipment Group Stock Performance

ALTG stock traded down $0.33 during mid-day trading on Tuesday, hitting $7.29. The company had a trading volume of 374,708 shares, compared to its average volume of 197,896. The company has a debt-to-equity ratio of 257.10, a quick ratio of 0.48 and a current ratio of 1.43. The firm has a market cap of $235.03 million, a PE ratio of -2.85 and a beta of 1.54. Alta Equipment Group Inc. has a 12 month low of $3.54 and a 12 month high of $8.99. The stock’s fifty day moving average price is $6.28 and its two-hundred day moving average price is $6.30.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.10). Alta Equipment Group had a negative return on equity of 341.70% and a negative net margin of 4.37%.The company had revenue of $509.10 million for the quarter, compared to analysts’ expectations of $489.56 million. On average, analysts forecast that Alta Equipment Group Inc. will post -1.92 earnings per share for the current fiscal year.

Institutional Trading of Alta Equipment Group

Large investors have recently modified their holdings of the business. Occudo Quantitative Strategies LP raised its stake in Alta Equipment Group by 7.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 23,423 shares of the company’s stock valued at $108,000 after purchasing an additional 1,558 shares in the last quarter. State Street Corp raised its position in shares of Alta Equipment Group by 0.3% during the 4th quarter. State Street Corp now owns 527,644 shares of the company’s stock valued at $2,427,000 after buying an additional 1,826 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Alta Equipment Group by 4.0% during the 4th quarter. Russell Investments Group Ltd. now owns 54,614 shares of the company’s stock worth $251,000 after acquiring an additional 2,112 shares during the last quarter. Royal Bank of Canada grew its position in Alta Equipment Group by 55.1% in the fourth quarter. Royal Bank of Canada now owns 6,153 shares of the company’s stock worth $28,000 after acquiring an additional 2,186 shares in the last quarter. Finally, Engineers Gate Manager LP increased its stake in Alta Equipment Group by 18.1% in the fourth quarter. Engineers Gate Manager LP now owns 14,940 shares of the company’s stock valued at $69,000 after acquiring an additional 2,289 shares during the last quarter. Institutional investors own 73.58% of the company’s stock.

Analysts Set New Price Targets

ALTG has been the subject of several recent research reports. DA Davidson decreased their price objective on Alta Equipment Group from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Zacks Research upgraded shares of Alta Equipment Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Wall Street Zen raised shares of Alta Equipment Group from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alta Equipment Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

About Alta Equipment Group

Alta Equipment Group, Inc (NYSE: ALTG) is a North American distributor of material handling and logistics equipment. The company offers a broad lineup of forklifts, lift trucks, aerial work platforms, tow motors, pallet jacks and related attachments, serving manufacturing, warehousing, distribution and industrial facilities. Through its network of branch locations, Alta Equipment provides customers with new and used sales, short- and long-term rentals, and integrated fleet management solutions designed to support operational efficiency.

In addition to equipment sales, Alta Equipment supports customers with comprehensive after-sales services.