De Lisle Partners LLP Lowers Stake in Alta Equipment Group Inc. (NYSE:ALTG)

De Lisle Partners LLP lowered its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,422 shares of the company’s stock after selling 16,647 shares during the quarter. De Lisle Partners LLP owned 0.42% of Alta Equipment Group worth $650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ALTG. Price T Rowe Associates Inc. MD purchased a new position in Alta Equipment Group in the 4th quarter worth $69,000. Wells Fargo & Company MN raised its position in Alta Equipment Group by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,533 shares of the company’s stock worth $82,000 after purchasing an additional 4,272 shares during the period. MetLife Investment Management LLC raised its position in Alta Equipment Group by 49.4% in the 4th quarter. MetLife Investment Management LLC now owns 20,313 shares of the company’s stock worth $133,000 after purchasing an additional 6,716 shares during the period. Corton Capital Inc. purchased a new position in Alta Equipment Group in the 1st quarter worth $152,000. Finally, Rhumbline Advisers raised its position in Alta Equipment Group by 15.9% in the 1st quarter. Rhumbline Advisers now owns 39,374 shares of the company’s stock worth $185,000 after purchasing an additional 5,406 shares during the period. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Trading Up 2.9%

NYSE:ALTG opened at $8.60 on Tuesday. Alta Equipment Group Inc. has a one year low of $3.54 and a one year high of $10.97. The company has a debt-to-equity ratio of 13.12, a current ratio of 1.36 and a quick ratio of 0.42. The company’s 50-day simple moving average is $6.52 and its 200 day simple moving average is $5.89. The firm has a market capitalization of $282.60 million, a P/E ratio of -3.86 and a beta of 1.55.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.05). Alta Equipment Group had a negative return on equity of 80.23% and a negative net margin of 3.83%. The business had revenue of $423.00 million for the quarter, compared to the consensus estimate of $436.15 million. As a group, analysts forecast that Alta Equipment Group Inc. will post -1.92 EPS for the current fiscal year.

Alta Equipment Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, May 15th. Alta Equipment Group’s payout ratio is currently -10.31%.

Analyst Ratings Changes

A number of brokerages have issued reports on ALTG. Northland Capmk raised shares of Alta Equipment Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 8th. Raymond James Financial decreased their price objective on shares of Alta Equipment Group from $8.50 to $7.00 and set a “market perform” rating on the stock in a research report on Friday, May 16th. DA Davidson decreased their price objective on shares of Alta Equipment Group from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Alta Equipment Group from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Finally, Northland Securities upgraded shares of Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $11.25.

Insider Buying and Selling

In other Alta Equipment Group news, Director Andrew P. Studdert acquired 6,743 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average price of $4.80 per share, with a total value of $32,366.40. Following the completion of the purchase, the director directly owned 93,334 shares of the company’s stock, valued at approximately $448,003.20. The trade was a 7.79% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.90% of the stock is owned by insiders.

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.