AJOVista LLC Takes $59,000 Position in Alta Equipment Group Inc. (NYSE:ALTG)

AJOVista LLC acquired a new position in Alta Equipment Group Inc. (NYSE:ALTG) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,807 shares of the company’s stock, valued at approximately $59,000.

Several other institutional investors have also added to or reduced their stakes in the stock. ABS Direct Equity Fund LLC bought a new position in Alta Equipment Group during the fourth quarter worth $2,721,000. New York State Common Retirement Fund lifted its stake in shares of Alta Equipment Group by 11.8% in the 4th quarter. New York State Common Retirement Fund now owns 90,839 shares of the company’s stock valued at $1,124,000 after purchasing an additional 9,622 shares during the period. Foundry Partners LLC lifted its stake in shares of Alta Equipment Group by 15.4% in the 4th quarter. Foundry Partners LLC now owns 236,400 shares of the company’s stock valued at $2,924,000 after purchasing an additional 31,490 shares during the period. Quantum Private Wealth LLC boosted its position in shares of Alta Equipment Group by 17.0% during the 4th quarter. Quantum Private Wealth LLC now owns 74,580 shares of the company’s stock valued at $923,000 after purchasing an additional 10,830 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew 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 purchasing an additional 3,740 shares during the period. 73.58% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $11.00, for a total value of $30,330,388.00. Following the sale, the insider now owns 211,175 shares of the company’s stock, valued at $2,322,925. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Ryan Greenawalt sold 34,951 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $11.36, for a total transaction of $397,043.36. Following the completion of the transaction, the chief executive officer now directly owns 5,842,625 shares in the company, valued at $66,372,220. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $11.00, for a total value of $30,330,388.00. Following the completion of the transaction, the insider now owns 211,175 shares in the company, valued at $2,322,925. The disclosure for this sale can be found here. Insiders have sold 2,816,886 shares of company stock valued at $31,011,780 in the last 90 days. Insiders own 20.90% of the company’s stock.

Alta Equipment Group Stock Up 0.9 %

ALTG opened at $11.80 on Monday. Alta Equipment Group Inc. has a fifty-two week low of $8.76 and a fifty-two week high of $17.98. The firm has a market capitalization of $387.16 million, a P/E ratio of 64.94 and a beta of 1.67. The company’s 50-day moving average is $11.90 and its 200 day moving average is $11.31. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.32 and a quick ratio of 0.48.

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

Alta Equipment Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.057 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.23 annualized dividend and a dividend yield of 1.93%. Alta Equipment Group’s payout ratio is presently 127.78%.

Analysts Set New Price Targets

ALTG has been the topic of several research analyst reports. B. Riley reissued a “buy” rating and set a $22.00 target price (down 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 objective on shares of Alta Equipment Group in a research report on Friday, March 15th.

About Alta Equipment Group

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.