Alta Equipment Group Inc. (NYSE:ALTG) Director Andrew P. Studdert Purchases 6,743 Shares

Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) Director Andrew P. Studdert bought 6,743 shares of the business's stock in a transaction on 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 transaction, the director now directly owns 93,334 shares of the company's stock, valued at approximately $448,003.20. This trade represents a 7.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alta Equipment Group Price Performance

Shares of ALTG stock traded up $0.18 during trading hours on Friday, reaching $5.97. The stock had a trading volume of 325,822 shares, compared to its average volume of 287,724. The stock's fifty day simple moving average is $4.68 and its 200 day simple moving average is $5.95. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45. Alta Equipment Group Inc. has a 12 month low of $3.54 and a 12 month high of $11.39. The firm has a market capitalization of $196.01 million, a PE ratio of -3.51 and a beta of 1.53.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) 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 firm had revenue of $423.00 million during the quarter, compared to the consensus estimate of $436.15 million. On average, equities research analysts predict that Alta Equipment Group Inc. will post -1.92 EPS for the current year.

Alta Equipment Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a dividend of $0.057 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.23 annualized dividend and a yield of 3.82%. Alta Equipment Group's payout ratio is presently -9.87%.

Institutional Investors Weigh In On Alta Equipment Group

Several hedge funds have recently bought and sold shares of ALTG. Price T Rowe Associates Inc. MD bought a new stake in Alta Equipment Group during the fourth quarter valued at approximately $69,000. Intech Investment Management LLC bought a new stake in Alta Equipment Group during the fourth quarter valued at approximately $79,000. Wells Fargo & Company MN lifted its position in Alta Equipment Group by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,533 shares of the company's stock valued at $82,000 after purchasing an additional 4,272 shares during the last quarter. SG Americas Securities LLC lifted its position 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 valued at $90,000 after purchasing an additional 2,375 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Alta Equipment Group by 49.4% during the fourth quarter. MetLife Investment Management LLC now owns 20,313 shares of the company's stock valued at $133,000 after purchasing an additional 6,716 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ALTG shares. Raymond James cut their target price on shares of 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. DA Davidson cut their price objective on shares of 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. Finally, B. Riley assumed coverage on shares of Alta Equipment Group in a research report on Thursday, March 27th. They issued a "buy" rating and a $10.00 price objective for the company. Three investment 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 company. According to MarketBeat.com, Alta Equipment Group currently has a consensus rating of "Moderate Buy" and an average target price of $11.25.

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.