Insider Selling: Alta Equipment Group (NYSE:ALTG) CEO Sells $197,301.30 in Stock

Alta Equipment Group Inc. (NYSE:ALTG) CEO Ryan Greenawalt sold 27,986 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $7.05, for a total transaction of $197,301.30. Following the sale, the chief executive officer directly owned 5,721,710 shares in the company, valued at $40,338,055.50. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Alta Equipment Group Stock Performance

Shares of ALTG opened at $6.98 on Friday. The company has a market cap of $225.04 million, a PE ratio of -2.73 and a beta of 1.54. The firm has a 50-day moving average of $6.38 and a 200-day moving average of $6.31. 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 1.43 and a quick ratio of 0.48.

Alta Equipment Group (NYSE:ALTG) last issued its earnings results on Thursday, February 26th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). Alta Equipment Group had a negative net margin of 4.37% and a negative return on equity of 341.70%. The firm had revenue of $509.10 million during the quarter, compared to the consensus estimate of $489.56 million. As a group, equities analysts forecast that Alta Equipment Group Inc. will post -1.92 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on ALTG shares. Wall Street Zen upgraded Alta Equipment Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. DA Davidson cut their price target on Alta Equipment Group from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Zacks Research upgraded shares of Alta Equipment Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alta Equipment Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Alta Equipment Group has an average rating of “Hold” and a consensus target price of $11.00.

Institutional Investors Weigh In On Alta Equipment Group

Institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL grew its stake in Alta Equipment Group by 11.9% during the fourth quarter. Tudor Investment Corp ET AL now owns 100,885 shares of the company’s stock worth $464,000 after buying an additional 10,768 shares in the last quarter. Occudo Quantitative Strategies LP increased its stake in Alta Equipment Group by 7.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 23,423 shares of the company’s stock valued at $108,000 after acquiring an additional 1,558 shares during the last quarter. Millennium Management LLC raised its position in Alta Equipment Group by 45.4% during the fourth quarter. Millennium Management LLC now owns 76,587 shares of the company’s stock valued at $352,000 after purchasing an additional 23,926 shares in the last quarter. Engineers Gate Manager LP raised its position in Alta Equipment Group by 18.1% during the fourth quarter. Engineers Gate Manager LP now owns 14,940 shares of the company’s stock valued at $69,000 after purchasing an additional 2,289 shares in the last quarter. Finally, CastleKnight Management LP lifted its stake in Alta Equipment Group by 11.4% during the fourth quarter. CastleKnight Management LP now owns 870,128 shares of the company’s stock worth $4,003,000 after purchasing an additional 89,068 shares during the last quarter. Institutional investors own 73.58% of the company’s stock.

About Alta Equipment Group

Alta Equipment Group, Inc (NYSE: ALTG) is a North American distributor of material handling and logistics equipment. The company offers a broad lineup of forklifts, lift trucks, aerial work platforms, tow motors, pallet jacks and related attachments, serving manufacturing, warehousing, distribution and industrial facilities. Through its network of branch locations, Alta Equipment provides customers with new and used sales, short- and long-term rentals, and integrated fleet management solutions designed to support operational efficiency.

In addition to equipment sales, Alta Equipment supports customers with comprehensive after-sales services.