Jane Street Group LLC Cuts Stake in Alta Equipment Group Inc. (NYSE:ALTG)

Jane Street Group LLC decreased its holdings in Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 41.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,722 shares of the company's stock after selling 55,677 shares during the quarter. Jane Street Group LLC owned 0.23% of Alta Equipment Group worth $508,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC grew its position in shares of Alta Equipment Group by 1.5% during the fourth quarter. LPL Financial LLC now owns 118,942 shares of the company's stock worth $778,000 after buying an additional 1,774 shares in the last quarter. Rhumbline Advisers grew its position in shares of Alta Equipment Group by 5.7% during 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 in the last quarter. SG Americas Securities LLC grew its position 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 worth $90,000 after buying an additional 2,375 shares in the last quarter. Barclays PLC grew its position in shares of Alta Equipment Group by 10.8% during the fourth quarter. Barclays PLC now owns 42,479 shares of the company's stock worth $278,000 after buying an additional 4,152 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Alta Equipment Group by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,533 shares of the company's stock worth $82,000 after buying an additional 4,272 shares in the last quarter. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALTG. DA Davidson lowered their price objective on Alta Equipment Group from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Raymond James lowered their price objective on Alta Equipment Group from $8.50 to $7.00 and set a "market perform" rating for the company in a research report on Friday, May 16th. Finally, B. Riley started coverage on Alta Equipment Group in a research report on Thursday, March 27th. They set a "buy" rating and a $10.00 target price on the stock. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.25.

Insider Activity

In other news, COO Craig Brubaker sold 5,294 shares of the 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 directly owns 98,640 shares of the company's stock, valued at approximately $493,200. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 19.20% of the company's stock.

Alta Equipment Group Stock Down 2.7%

NYSE:ALTG traded down $0.13 during midday trading on Friday, hitting $4.75. 179,289 shares of the company were exchanged, compared to its average volume of 290,948. Alta Equipment Group Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $11.39. The company has a market capitalization of $156.09 million, a PE ratio of -2.79 and a beta of 1.53. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45. The company has a fifty day simple moving average of $4.60 and a 200 day simple moving average of $6.01.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last posted its 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 firm had revenue of $423.00 million for the quarter, compared to analyst estimates of $436.15 million. Alta Equipment Group had a negative return on equity of 42.09% and a negative net margin of 2.81%. As a group, equities analysts anticipate that Alta Equipment Group Inc. will post -1.92 earnings per share for the current fiscal year.

Alta Equipment Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid a dividend of $0.057 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.23 dividend on an annualized basis and a yield of 4.80%. Alta Equipment Group's dividend payout ratio is presently -9.87%.

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.