272 Capital LP Sells 356,489 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

272 Capital LP reduced its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 85.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 59,000 shares of the company's stock after selling 356,489 shares during the period. 272 Capital LP owned approximately 0.18% of Alta Equipment Group worth $386,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ALTG. Price T Rowe Associates Inc. MD acquired a new position in shares of Alta Equipment Group during the 4th quarter worth approximately $69,000. Intech Investment Management LLC bought a new stake in shares of Alta Equipment Group in the fourth quarter valued at about $79,000. Wells Fargo & Company MN grew its position in shares of Alta Equipment Group by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,533 shares of the company's stock worth $82,000 after purchasing an additional 4,272 shares in the last quarter. SG Americas Securities LLC increased its stake in Alta Equipment Group by 20.8% during the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company's stock worth $90,000 after acquiring an additional 2,375 shares during the period. Finally, MetLife Investment Management LLC increased its position in shares of Alta Equipment Group by 49.4% in the fourth quarter. MetLife Investment Management LLC now owns 20,313 shares of the company's stock worth $133,000 after purchasing an additional 6,716 shares during the period. Institutional investors own 73.58% of the company's stock.

Alta Equipment Group Trading Up 2.0 %

Shares of Alta Equipment Group stock traded up $0.10 on Monday, hitting $4.85. 112,554 shares of the company's stock traded hands, compared to its average volume of 314,598. The company has a market capitalization of $159.21 million, a price-to-earnings ratio of -2.85 and a beta of 1.53. The company has a fifty day moving average of $4.67 and a two-hundred day moving average of $6.26. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43. Alta Equipment Group Inc. has a one year low of $3.54 and a one year high of $12.09.

Alta Equipment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.057 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.23 annualized dividend and a dividend yield of 4.71%. Alta Equipment Group's dividend payout ratio is currently -11.22%.

Insider Activity at Alta Equipment Group

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the completion of the sale, the chief operating officer now owns 98,640 shares of the company's stock, valued at approximately $493,200. This trade represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 19.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ALTG has been the subject of several research analyst reports. B. Riley assumed coverage on shares of Alta Equipment Group in a research report on Thursday, March 27th. They set a "buy" rating and a $10.00 price objective for the company. Raymond James cut their target price on shares of Alta Equipment Group from $9.00 to $8.50 and set a "market perform" rating on the stock in a research report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.63.

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.