Aristeia Capital L.L.C. Acquires Shares of 97,958 Alta Equipment Group Inc. (NYSE:ALTG)

Aristeia Capital L.L.C. acquired a new stake in Alta Equipment Group Inc. (NYSE:ALTG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 97,958 shares of the company's stock, valued at approximately $641,000. Aristeia Capital L.L.C. owned about 0.29% of Alta Equipment Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ALTG. Price T Rowe Associates Inc. MD acquired a new stake in shares of Alta Equipment Group during the 4th quarter valued at about $69,000. Intech Investment Management LLC acquired a new stake in Alta Equipment Group in the 4th quarter worth $79,000. Wells Fargo & Company MN raised its holdings in Alta Equipment Group by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,533 shares of the company's stock valued at $82,000 after acquiring an additional 4,272 shares in the last quarter. SG Americas Securities LLC boosted its stake in Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company's stock worth $90,000 after buying an additional 2,375 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in 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 in the last quarter. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Alta Equipment Group Price Performance

Shares of ALTG traded up $0.06 during midday trading on Thursday, hitting $4.61. The company's stock had a trading volume of 41,347 shares, compared to its average volume of 198,416. The company's fifty day simple moving average is $4.62 and its two-hundred day simple moving average is $6.23. Alta Equipment Group Inc. has a one year low of $3.54 and a one year high of $11.39. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45. The stock has a market capitalization of $151.48 million, a price-to-earnings ratio of -2.71 and a beta of 1.53.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.05). The company had revenue of $423.00 million during the quarter, compared to the consensus estimate of $436.15 million. Alta Equipment Group had a negative net margin of 2.81% and a negative return on equity of 42.09%. As a group, equities analysts expect that Alta Equipment Group Inc. will post -1.92 earnings per share for the current fiscal year.

Alta Equipment Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a dividend of $0.057 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.23 annualized dividend and a yield of 4.95%. Alta Equipment Group's dividend payout ratio (DPR) is currently -11.22%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Raymond James cut 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 started coverage on Alta Equipment Group in a research note on Thursday, March 27th. They set a "buy" rating and a $10.00 price objective for the company. Three equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.63.

Insider Transactions at Alta Equipment Group

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of Alta Equipment Group stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total transaction of $26,470.00. Following the completion of the sale, the chief operating officer now directly owns 98,640 shares in the company, valued at $493,200. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 19.90% of the company's stock.

Alta Equipment Group 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.