Alta Equipment Group Inc. (NYSE:ALTG) Major Shareholder Mill Road Capital Iii, L.P. Buys 179,414 Shares

Alta Equipment Group Inc. (NYSE:ALTG) major shareholder Mill Road Capital Iii, L.P. acquired 179,414 shares of the stock in a transaction dated Wednesday, July 10th. The stock was acquired at an average cost of $8.05 per share, with a total value of $1,444,282.70. Following the transaction, the insider now owns 3,894,008 shares of the company’s stock, valued at $31,346,764.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Alta Equipment Group Trading Up 2.9 %

Shares of Alta Equipment Group stock traded up $0.26 during trading hours on Friday, reaching $9.09. The stock had a trading volume of 189,162 shares, compared to its average volume of 350,234. The company has a debt-to-equity ratio of 4.93, a quick ratio of 0.43 and a current ratio of 1.30. Alta Equipment Group Inc. has a 1 year low of $7.62 and a 1 year high of $17.98. The firm has a 50 day simple moving average of $8.75 and a two-hundred day simple moving average of $10.70.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.17). Alta Equipment Group had a negative net margin of 0.21% and a negative return on equity of 0.35%. The business had revenue of $441.60 million during the quarter, compared to analysts’ expectations of $416.35 million. On average, analysts expect that Alta Equipment Group Inc. will post -0.37 earnings per share for the current fiscal year.

Alta Equipment Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were given a dividend of $0.057 per share. The ex-dividend date was Tuesday, May 14th. This represents a $0.23 dividend on an annualized basis and a yield of 2.51%. Alta Equipment Group’s dividend payout ratio (DPR) is -109.52%.

Analyst Ratings Changes

Several analysts have commented on the company. B. Riley restated a “buy” rating and issued a $22.00 price target (down previously from $25.00) on shares of Alta Equipment Group in a report on Friday, March 15th. DA Davidson dropped their price target on shares of Alta Equipment Group from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC boosted its position in shares of Alta Equipment Group by 44.3% in the second quarter. Register Financial Advisors LLC now owns 335,702 shares of the company’s stock worth $2,699,000 after buying an additional 103,071 shares during the period. Harbor Capital Advisors Inc. lifted its position in Alta Equipment Group by 28.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,766 shares of the company’s stock worth $127,000 after acquiring an additional 3,518 shares in the last quarter. Ancora Advisors LLC boosted its holdings in Alta Equipment Group by 64.1% in the 1st quarter. Ancora Advisors LLC now owns 262,919 shares of the company’s stock worth $3,405,000 after acquiring an additional 102,660 shares during the period. Janus Henderson Group PLC grew its position in Alta Equipment Group by 237.0% in the first quarter. Janus Henderson Group PLC now owns 50,957 shares of the company’s stock valued at $660,000 after acquiring an additional 35,838 shares in the last quarter. Finally, EntryPoint Capital LLC raised its stake in shares of Alta Equipment Group by 88.0% during the first quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock valued at $109,000 after purchasing an additional 3,940 shares during the period. 73.58% of the stock is owned by hedge funds and other institutional investors.

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.