RBF Capital LLC Invests $632,000 in Alta Equipment Group Inc. $ALTG

RBF Capital LLC acquired a new stake in Alta Equipment Group Inc. (NYSE:ALTG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $632,000.

Several other hedge funds have also added to or reduced their stakes in ALTG. Lido Advisors LLC bought a new stake in shares of Alta Equipment Group in the second quarter worth about $74,000. JPMorgan Chase & Co. raised its holdings in Alta Equipment Group by 71.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 55,084 shares of the company’s stock worth $348,000 after buying an additional 23,047 shares during the period. Citizens Financial Group Inc. RI lifted its stake in Alta Equipment Group by 147.3% in the second quarter. Citizens Financial Group Inc. RI now owns 230,000 shares of the company’s stock valued at $1,454,000 after buying an additional 137,000 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Alta Equipment Group by 23.4% in the second quarter. Los Angeles Capital Management LLC now owns 42,705 shares of the company’s stock valued at $270,000 after buying an additional 8,105 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings 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 valued at $5,006,000 after buying an additional 110,444 shares during the period. Institutional investors and hedge funds own 73.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of Alta Equipment Group from a “hold” rating to a “strong sell” rating in a research note on Friday, November 14th. Wall Street Zen lowered Alta Equipment Group from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. DA Davidson reduced their price objective on Alta Equipment Group from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alta Equipment Group in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alta Equipment Group presently has an average rating of “Hold” and an average price target of $11.00.

Insider Activity

In other news, Director Daniel Shribman bought 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was acquired at an average cost of $5.07 per share, with a total value of $202,800.00. Following the completion of the purchase, the director owned 131,393 shares of the company’s stock, valued at $666,162.51. This represents a 43.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 19.20% of the stock is currently owned by corporate insiders.

Alta Equipment Group Trading Up 5.5%

Shares of NYSE:ALTG opened at $5.43 on Thursday. The company’s 50-day moving average price is $5.60 and its two-hundred day moving average price is $6.64. Alta Equipment Group Inc. has a one year low of $3.54 and a one year high of $8.99. The company has a debt-to-equity ratio of 257.10, a current ratio of 1.42 and a quick ratio of 0.49. The stock has a market capitalization of $174.90 million, a PE ratio of -2.16 and a beta of 1.56.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($1.04). Alta Equipment Group had a negative net margin of 4.34% and a negative return on equity of 175.61%. The company had revenue of $422.60 million during the quarter, compared to the consensus estimate of $456.68 million. On average, equities analysts forecast that Alta Equipment Group Inc. will post -1.92 EPS for the current fiscal year.

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.