SG Americas Securities LLC Makes New Investment in Alta Equipment Group Inc. (NYSE:ALTG)

SG Americas Securities LLC acquired a new position in shares of Alta Equipment Group Inc. (NYSE:ALTG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,409 shares of the company’s stock, valued at approximately $77,000.

Other institutional investors also recently modified their holdings of the company. Nantahala Capital Management LLC raised its position in Alta Equipment Group by 108.2% in the 2nd quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after purchasing an additional 435,713 shares during the last quarter. Ironwood Investment Management LLC bought a new stake in shares of Alta Equipment Group during the second quarter worth $158,000. SkyView Investment Advisors LLC increased its stake in shares of Alta Equipment Group by 14.0% in the second quarter. SkyView Investment Advisors LLC now owns 45,225 shares of the company’s stock valued at $364,000 after buying an additional 5,537 shares in the last quarter. JCP Investment Management LLC bought a new position in shares of Alta Equipment Group in the second quarter valued at about $721,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Alta Equipment Group in the second quarter valued at about $89,000. Institutional investors own 73.58% of the company’s stock.

Insider Buying and Selling at Alta Equipment Group

In other news, major shareholder Mill Road Capital Iii, L.P. acquired 75,486 shares of Alta Equipment Group stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average price of $10.35 per share, with a total value of $781,280.10. Following the purchase, the insider now directly owns 3,969,494 shares of the company’s stock, valued at $41,084,262.90. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alta Equipment Group news, Director Andrew P. Studdert bought 10,000 shares of Alta Equipment Group stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $5.65 per share, for a total transaction of $56,500.00. Following the completion of the acquisition, the director now owns 86,591 shares in the company, valued at approximately $489,239.15. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Mill Road Capital Iii, L.P. purchased 75,486 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average cost of $10.35 per share, for a total transaction of $781,280.10. Following the transaction, the insider now owns 3,969,494 shares of the company’s stock, valued at $41,084,262.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 139,686 shares of company stock valued at $1,333,168. 19.90% of the stock is currently owned by company insiders.

Alta Equipment Group Trading Up 8.1 %

ALTG stock opened at $6.70 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 1.37 and a debt-to-equity ratio of 5.81. Alta Equipment Group Inc. has a twelve month low of $5.40 and a twelve month high of $13.67. The company has a market cap of $222.08 million, a P/E ratio of -31.90 and a beta of 1.67. The business has a fifty day moving average of $6.36 and a 200-day moving average of $8.24.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.34). Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. The business had revenue of $488.10 million for the quarter, compared to analyst estimates of $497.57 million. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, equities research analysts expect that Alta Equipment Group Inc. will post -1.08 EPS for the current year.

Alta Equipment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a $0.057 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.23 annualized dividend and a dividend yield of 3.40%. Alta Equipment Group’s dividend payout ratio is currently -104.76%.

Wall Street Analysts Forecast Growth

ALTG has been the topic of a number of research analyst reports. Raymond James reissued a “market perform” rating and set a $10.00 price objective (down previously from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th. DA Davidson decreased their price target on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th.

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.