272 Capital LP Cuts Position in Alta Equipment Group Inc. (NYSE:ALTG)

272 Capital LP trimmed its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 85.8% during the 4th quarter, Holdings Channel reports. The fund owned 59,000 shares of the company’s stock after selling 356,489 shares during the period. 272 Capital LP’s holdings in Alta Equipment Group were worth $386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALTG. SG Americas Securities LLC increased its position in Alta Equipment Group by 20.8% in the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock worth $90,000 after purchasing an additional 2,375 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alta Equipment Group by 167.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock worth $347,000 after buying an additional 32,218 shares during the last quarter. Barclays PLC increased its holdings in shares of Alta Equipment Group by 302.8% in the 3rd quarter. Barclays PLC now owns 38,327 shares of the company’s stock worth $258,000 after buying an additional 28,812 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Alta Equipment Group by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 238,827 shares of the company’s stock valued at $1,562,000 after buying an additional 22,800 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Alta Equipment Group by 20.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 44,523 shares of the company’s stock valued at $291,000 after acquiring an additional 7,597 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALTG shares. Raymond James decreased their price objective on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Monday, March 10th. B. Riley began coverage on Alta Equipment Group in a report on Thursday, March 27th. They set a “buy” rating and a $10.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alta Equipment Group currently has a consensus rating of “Moderate Buy” and an average target price of $12.63.

Alta Equipment Group Stock Up 5.3 %

Shares of NYSE ALTG opened at $4.48 on Friday. Alta Equipment Group Inc. has a 1 year low of $3.54 and a 1 year high of $12.09. The firm has a 50-day simple moving average of $4.69 and a two-hundred day simple moving average of $6.27. The company has a market cap of $147.05 million, a P/E ratio of -2.63 and a beta of 1.55. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43.

Alta Equipment Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were paid a dividend of $0.057 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend was Friday, February 14th. Alta Equipment Group’s dividend payout ratio is currently -11.22%.

Insider Activity at Alta Equipment Group

In other news, COO Craig Brubaker sold 5,294 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total transaction of $26,470.00. Following the completion of the sale, the chief operating officer now directly owns 98,640 shares of the company’s stock, valued at approximately $493,200. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.90% of the stock is owned by company insiders.

Alta Equipment Group 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.