Alta Equipment Group Inc. (NYSE:ALTG) Stock Position Decreased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 565,751 shares of the company’s stock after selling 36,425 shares during the period. CIBC Private Wealth Group LLC owned about 1.70% of Alta Equipment Group worth $3,672,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ALTG. LPL Financial LLC raised its position in shares of Alta Equipment Group by 1.5% during the 4th quarter. LPL Financial LLC now owns 118,942 shares of the company’s stock worth $778,000 after purchasing an additional 1,774 shares during the period. Rhumbline Advisers increased its position in Alta Equipment Group by 5.7% in the fourth quarter. Rhumbline Advisers now owns 33,968 shares of the company’s stock worth $222,000 after buying an additional 1,827 shares during the period. SkyView Investment Advisors LLC lifted its stake in Alta Equipment Group by 5.2% in the third quarter. SkyView Investment Advisors LLC now owns 47,576 shares of the company’s stock valued at $321,000 after buying an additional 2,351 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after acquiring an additional 2,375 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Alta Equipment Group by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 78,454 shares of the company’s stock worth $529,000 after acquiring an additional 4,747 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Alta Equipment Group Stock Up 5.7 %

Alta Equipment Group stock opened at $4.83 on Thursday. Alta Equipment Group Inc. has a 52 week low of $4.35 and a 52 week high of $13.67. The stock has a market cap of $158.71 million, a price-to-earnings ratio of -2.84 and a beta of 1.81. The company’s 50-day moving average price is $6.04 and its two-hundred day moving average price is $6.60. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45.

Alta Equipment Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were issued a dividend of $0.057 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.23 annualized dividend and a yield of 4.72%. Alta Equipment Group’s payout ratio is -11.22%.

Insiders Place Their Bets

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total value of $26,470.00. Following the sale, the chief operating officer now directly owns 98,640 shares in the company, valued at approximately $493,200. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ALTG. Raymond James reduced their target price on shares of Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Monday, March 10th. B. Riley assumed coverage on Alta Equipment Group in a report on Thursday, March 27th. They set a “buy” rating and a $10.00 price target on the stock. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.63.

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.