Alta Equipment Group Inc. (NYSE:ALTG) Shares Acquired by Foundry Partners LLC

Foundry Partners LLC lifted its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 15.4% during the fourth quarter, Holdings Channel reports. The firm owned 236,400 shares of the company’s stock after buying an additional 31,490 shares during the period. Foundry Partners LLC’s holdings in Alta Equipment Group were worth $2,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ALTG. Voss Capital LLC raised its holdings in shares of Alta Equipment Group by 20.1% during the fourth quarter. Voss Capital LLC now owns 3,245,000 shares of the company’s stock worth $40,141,000 after acquiring an additional 543,500 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Alta Equipment Group by 52.7% during the third quarter. Assenagon Asset Management S.A. now owns 245,468 shares of the company’s stock worth $2,960,000 after buying an additional 84,678 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Alta Equipment Group during the third quarter worth about $4,558,000. Millrace Asset Group Inc. grew its position in Alta Equipment Group by 62.3% during the third quarter. Millrace Asset Group Inc. now owns 136,735 shares of the company’s stock worth $1,649,000 after buying an additional 52,493 shares in the last quarter. Finally, Register Financial Advisors LLC lifted its stake in Alta Equipment Group by 33.7% during the fourth quarter. Register Financial Advisors LLC now owns 188,730 shares of the company’s stock worth $2,335,000 after purchasing an additional 47,568 shares during the period. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alta Equipment Group news, CFO Anthony Colucci sold 17,222 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.45, for a total transaction of $197,191.90. Following the sale, the chief financial officer now directly owns 156,609 shares of the company’s stock, valued at approximately $1,793,173.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Anthony Colucci sold 17,222 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.45, for a total value of $197,191.90. Following the sale, the chief financial officer now directly owns 156,609 shares of the company’s stock, valued at approximately $1,793,173.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Voss Capital, Llc purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was bought at an average price of $10.82 per share, for a total transaction of $108,200.00. Following the purchase, the insider now owns 160,000 shares in the company, valued at approximately $1,731,200. The disclosure for this purchase can be found here. Insiders have sold 2,816,886 shares of company stock valued at $31,011,780 in the last three months. 20.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALTG. DA Davidson restated a “buy” rating and set a $22.00 price target on shares of Alta Equipment Group in a research note on Friday, March 15th. B. Riley reaffirmed a “buy” rating and set a $22.00 target price (down previously from $25.00) on shares of Alta Equipment Group in a report on Friday, March 15th.

Alta Equipment Group Price Performance

Shares of ALTG stock opened at $11.43 on Tuesday. Alta Equipment Group Inc. has a 12-month low of $8.76 and a 12-month high of $17.98. The firm has a market capitalization of $375.02 million, a price-to-earnings ratio of 63.50 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 1.32 and a debt-to-equity ratio of 4.40. The firm has a fifty day moving average of $11.94 and a 200-day moving average of $11.30.

Alta Equipment Group (NYSE:ALTG) last announced its earnings results on Thursday, March 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company had revenue of $521.50 million during the quarter, compared to analyst estimates of $478.68 million. Alta Equipment Group had a return on equity of 8.60% and a net margin of 0.47%. On average, equities research analysts forecast that Alta Equipment Group Inc. will post 0.27 earnings per share for the current year.

Alta Equipment Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a dividend of $0.057 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.23 annualized dividend and a yield of 1.99%. Alta Equipment Group’s dividend payout ratio (DPR) is presently 127.78%.

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.