Equitec Proprietary Markets LLC Acquires New Shares in Alta Equipment Group Inc. $ALTG

Equitec Proprietary Markets LLC acquired a new stake in Alta Equipment Group Inc. (NYSE:ALTG) in the first quarter, Holdings Channel.com reports. The firm acquired 55,630 shares of the company’s stock, valued at approximately $261,000. Alta Equipment Group makes up approximately 0.2% of Equitec Proprietary Markets LLC’s portfolio, making the stock its 9th biggest position.

A number of other hedge funds have also bought and sold shares of the business. Voss Capital LP grew its stake in Alta Equipment Group by 2.3% in the 1st quarter. Voss Capital LP now owns 2,980,816 shares of the company’s stock valued at $13,980,000 after buying an additional 65,816 shares in the last quarter. Invesco Ltd. grew its position in shares of Alta Equipment Group by 7.4% during the 1st quarter. Invesco Ltd. now owns 84,363 shares of the company’s stock valued at $396,000 after purchasing an additional 5,781 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of Alta Equipment Group during the 1st quarter valued at $436,000. GSA Capital Partners LLP grew its position in shares of Alta Equipment Group by 98.4% during the 1st quarter. GSA Capital Partners LLP now owns 358,290 shares of the company’s stock valued at $1,680,000 after purchasing an additional 177,685 shares in the last quarter. Finally, Corton Capital Inc. purchased a new position in shares of Alta Equipment Group during the 1st quarter valued at $152,000. 73.58% of the stock is currently owned by hedge funds and other institutional investors.

Alta Equipment Group Price Performance

Shares of Alta Equipment Group stock opened at $7.9950 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.48 and a debt-to-equity ratio of 16.69. The firm has a market capitalization of $256.24 million, a PE ratio of -3.88 and a beta of 1.60. The business’s 50-day moving average price is $7.41 and its 200-day moving average price is $5.99. Alta Equipment Group Inc. has a 12 month low of $3.54 and a 12 month high of $8.99.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.06. The firm had revenue of $481.20 million for the quarter, compared to analyst estimates of $478.63 million. Alta Equipment Group had a negative return on equity of 95.61% and a negative net margin of 3.53%. Sell-side analysts forecast that Alta Equipment Group Inc. will post -1.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ALTG shares. 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. Northland Capmk upgraded shares of Alta Equipment Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 8th. Northland Securities upgraded shares of Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Tuesday, July 8th. Raymond James Financial reduced their price target on shares of Alta Equipment Group from $8.50 to $7.00 and set a “market perform” rating for the company in a research report on Friday, May 16th. Finally, DA Davidson restated a “neutral” rating and set a $8.00 price target on shares of Alta Equipment Group in a research report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.25.

Insider Activity at Alta Equipment Group

In other news, Director Andrew P. Studdert acquired 6,743 shares of Alta Equipment Group stock in a transaction dated Thursday, May 29th. The shares were purchased at an average cost of $4.80 per share, for a total transaction of $32,366.40. Following the transaction, the director owned 93,334 shares of the company’s stock, valued at $448,003.20. This trade represents a 7.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 19.20% of the company’s stock.

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.