GSA Capital Partners LLP Has $1.68 Million Stake in Alta Equipment Group Inc. (NYSE:ALTG)

Key Points

• GSA Capital Partners LLP increased its holdings in Alta Equipment Group by 98.4%, owning 358,290 shares worth approximately $1.68 million as of its latest SEC filing.
• Alta Equipment Group's quarterly earnings report showed a loss of ($0.65) per share, missing estimates by $0.05, along with a revenue of $423 million against expectations of $436.15 million.
• The company recently announced a quarterly dividend of $0.057 per share, resulting in a yield of 2.81%, despite having a negative payout ratio of -10.31%.

GSA Capital Partners LLP lifted its stake in Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 98.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 358,290 shares of the company's stock after purchasing an additional 177,685 shares during the quarter. GSA Capital Partners LLP owned 1.09% of Alta Equipment Group worth $1,680,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Alta Equipment Group by 5.5% during the 4th quarter. American Century Companies Inc. now owns 285,492 shares of the company's stock valued at $1,867,000 after buying an additional 14,788 shares during the last quarter. LPL Financial LLC lifted its holdings 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 valued at $778,000 after buying an additional 1,774 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alta Equipment Group by 31.7% during the 4th quarter. JPMorgan Chase & Co. now owns 67,722 shares of the company's stock valued at $443,000 after buying an additional 16,304 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Alta Equipment Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 542,607 shares of the company's stock valued at $3,549,000 after acquiring an additional 6,692 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of 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. Institutional investors and hedge funds own 73.58% of the company's stock.

Insider Buying and Selling

In other news, Director Andrew P. Studdert purchased 6,743 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were acquired at an average price of $4.80 per share, with a total value of $32,366.40. Following the completion of the purchase, the director directly owned 93,334 shares of the company's stock, valued at $448,003.20. The trade was a 7.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 19.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ALTG shares. Wall Street Zen raised Alta Equipment Group from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Northland Capmk raised Alta Equipment Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Raymond James Financial cut their price objective on Alta Equipment Group from $8.50 to $7.00 and set a "market perform" rating on the stock in a research note on Friday, May 16th. Northland Securities raised Alta Equipment Group from a "market perform" rating to an "outperform" rating and set a $20.00 price target on the stock in a research report on Tuesday, July 8th. Finally, DA Davidson dropped their price target on Alta Equipment Group from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $11.25.

Alta Equipment Group Stock Performance

Shares of ALTG traded down $0.16 on Wednesday, reaching $7.99. 182,948 shares of the stock traded hands, compared to its average volume of 273,705. The firm has a market cap of $262.55 million, a price-to-earnings ratio of -3.58 and a beta of 1.55. The company has a debt-to-equity ratio of 13.12, a current ratio of 1.36 and a quick ratio of 0.42. Alta Equipment Group Inc. has a 12 month low of $3.54 and a 12 month high of $10.94. The stock's 50-day moving average price is $6.64 and its 200-day moving average price is $5.92.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.05). The firm had revenue of $423.00 million for the quarter, compared to the consensus estimate of $436.15 million. Alta Equipment Group had a negative net margin of 3.83% and a negative return on equity of 80.23%. Equities analysts forecast that Alta Equipment Group Inc. will post -1.92 EPS for the current fiscal year.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were paid a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Thursday, May 15th. Alta Equipment Group's dividend payout ratio is currently -10.31%.

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.