Ryan Greenawalt Sells 27,986 Shares of Alta Equipment Group (NYSE:ALTG) Stock

Alta Equipment Group Inc. (NYSE:ALTG) CEO Ryan Greenawalt sold 27,986 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $7.05, for a total value of $197,301.30. Following the completion of the transaction, the chief executive officer owned 5,721,710 shares in the company, valued at $40,338,055.50. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Alta Equipment Group Stock Performance

ALTG stock opened at $7.10 on Thursday. The firm has a 50 day simple moving average of $6.33 and a 200 day simple moving average of $6.31. Alta Equipment Group Inc. has a 52 week low of $3.54 and a 52 week high of $8.99. The stock has a market cap of $228.90 million, a P/E ratio of -2.77 and a beta of 1.54. The company has a debt-to-equity ratio of 257.10, a quick ratio of 0.48 and a current ratio of 1.43.

Alta Equipment Group (NYSE:ALTG) last released its earnings results on Thursday, February 26th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). The company had revenue of $509.10 million during the quarter, compared to analysts’ expectations of $489.56 million. Alta Equipment Group had a negative return on equity of 341.70% and a negative net margin of 4.37%. Research analysts anticipate 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 made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Alta Equipment Group by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,321,283 shares of the company’s stock worth $9,566,000 after purchasing an additional 30,552 shares during the last quarter. CastleKnight Management LP raised its position in shares of Alta Equipment Group by 11.4% in the fourth quarter. CastleKnight Management LP now owns 870,128 shares of the company’s stock valued at $4,003,000 after purchasing an additional 89,068 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Alta Equipment Group by 16.2% in the second quarter. First Eagle Investment Management LLC now owns 792,103 shares of the company’s stock worth $5,006,000 after buying an additional 110,444 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Alta Equipment Group by 0.7% during the 4th quarter. Royce & Associates LP now owns 550,783 shares of the company’s stock worth $2,534,000 after buying an additional 3,991 shares during the period. Finally, State Street Corp grew its stake in Alta Equipment Group by 0.3% in 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 during the last quarter. Institutional investors own 73.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ALTG. Zacks Research upgraded Alta Equipment Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alta Equipment Group in a report on Monday, December 29th. Wall Street Zen raised Alta Equipment Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, DA Davidson cut their price objective on shares of Alta Equipment Group from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.00.

Alta Equipment Group Company Profile

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.