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

Aristeia Capital L.L.C. purchased a new stake in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 97,958 shares of the company's stock, valued at approximately $641,000. Aristeia Capital L.L.C. owned approximately 0.29% of Alta Equipment Group at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD acquired a new position in shares of Alta Equipment Group during the fourth quarter valued at $69,000. Intech Investment Management LLC acquired a new position in Alta Equipment Group during the 4th quarter worth approximately $79,000. Wells Fargo & Company MN increased its position in shares of Alta Equipment Group by 51.7% in the fourth 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 during the last quarter. SG Americas Securities LLC lifted its stake in Alta Equipment Group by 20.8% in 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 last quarter. Finally, MetLife Investment Management LLC raised its stake in Alta Equipment Group by 49.4% in the 4th quarter. MetLife Investment Management LLC now owns 20,313 shares of the company's stock valued at $133,000 after acquiring an additional 6,716 shares during the period. 73.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALTG has been the subject of a number of recent analyst reports. Raymond James cut their target price on Alta Equipment Group from $9.00 to $8.50 and set a "market perform" rating for the company in a research report on Monday, March 10th. B. Riley started coverage on shares of 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 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.63.

Alta Equipment Group Stock Down 5.3 %

Alta Equipment Group stock traded down $0.26 during midday trading on Wednesday, hitting $4.52. 117,153 shares of the stock were exchanged, compared to its average volume of 313,243. The stock has a market capitalization of $148.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.53. 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 business's 50-day moving average price is $4.64 and its 200-day moving average price is $6.24. Alta Equipment Group Inc. has a 52-week low of $3.54 and a 52-week high of $12.09.

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 $0.057 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 5.05%. Alta Equipment Group's dividend payout ratio (DPR) is presently -11.22%.

Insider Buying and Selling

In related news, COO Craig Brubaker sold 5,294 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total transaction of $26,470.00. Following the sale, the chief operating officer now owns 98,640 shares of the company's stock, valued at approximately $493,200. This represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 19.90% of the stock is currently owned by insiders.

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.