Alta Equipment Group Inc. (NYSE:ALTG) Director Acquires $32,366.40 in Stock

Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) Director Andrew P. Studdert acquired 6,743 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were bought at an average cost of $4.80 per share, for a total transaction of $32,366.40. Following the purchase, the director now owns 93,334 shares of the company's stock, valued at approximately $448,003.20. The trade was a 7.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alta Equipment Group Stock Performance

NYSE:ALTG traded up $0.35 during midday trading on Thursday, reaching $5.79. 166,465 shares of the company traded hands, compared to its average volume of 287,416. Alta Equipment Group Inc. has a twelve month low of $3.54 and a twelve month high of $11.39. The firm has a market capitalization of $190.26 million, a price-to-earnings ratio of -3.41 and a beta of 1.53. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43. The company has a fifty day moving average price of $4.63 and a 200 day moving average price of $5.96.

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). Alta Equipment Group had a negative net margin of 2.81% and a negative return on equity of 42.09%. The company had revenue of $423.00 million for the quarter, compared to analyst estimates of $436.15 million. On average, analysts expect that Alta Equipment Group Inc. will post -1.92 EPS for the current fiscal year.

Alta Equipment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a yield of 3.94%. The ex-dividend date was Thursday, May 15th. Alta Equipment Group's payout ratio is currently -9.87%.

Institutional Trading of Alta Equipment Group

Several hedge funds have recently added to or reduced their stakes in ALTG. Price T Rowe Associates Inc. MD bought a new stake in shares of Alta Equipment Group in the 4th quarter worth $69,000. Intech Investment Management LLC bought a new stake in shares of Alta Equipment Group in the 4th quarter worth $79,000. 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 worth $82,000 after buying an additional 4,272 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Alta Equipment Group by 20.8% in the 4th 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 stake in shares of Alta Equipment Group by 49.4% in the 4th quarter. MetLife Investment Management LLC now owns 20,313 shares of the company's stock worth $133,000 after buying an additional 6,716 shares in the last quarter. Institutional investors own 73.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ALTG shares. Raymond James decreased 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. DA Davidson cut their price objective on Alta Equipment Group from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, B. Riley assumed coverage on Alta Equipment Group in a research report on Thursday, March 27th. They issued a "buy" rating and a $10.00 target price for the company. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.25.

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.