Alta Equipment Group Inc. (NYSE:ALTG) Director Andrew P. Studdert Purchases 3,257 Shares

Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) Director Andrew P. Studdert purchased 3,257 shares of the firm's stock in a transaction on Friday, May 30th. The stock was acquired at an average cost of $4.80 per share, with a total value of $15,633.60. Following the transaction, the director now directly owns 96,591 shares in the company, valued at $463,636.80. This trade represents a 3.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Alta Equipment Group Stock Up 3.0%

Shares of NYSE:ALTG 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. Alta Equipment Group Inc. has a 1 year low of $3.54 and a 1 year high of $11.39. The firm's 50 day moving average is $4.68 and its 200-day moving average is $5.95. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. The stock has a market capitalization of $196.01 million, a price-to-earnings 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.05). The firm had revenue of $423.00 million for the quarter, compared to analysts' expectations of $436.15 million. Alta Equipment Group had a negative return on equity of 42.09% and a negative net margin of 2.81%. Research analysts predict that Alta Equipment Group Inc. will post -1.92 earnings per share for the current fiscal year.

Alta Equipment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders 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 dividend yield of 3.82%. Alta Equipment Group's dividend payout ratio (DPR) is currently -9.87%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALTG. B. Riley began coverage on Alta Equipment Group in a research report on Thursday, March 27th. They set a "buy" rating and a $10.00 price objective on the stock. DA Davidson cut their price target 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, Raymond James reduced their price target on Alta Equipment Group from $8.50 to $7.00 and set a "market perform" rating on the stock in a research report on Friday, May 16th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alta Equipment Group presently has an average rating of "Moderate Buy" and a consensus target price of $11.25.

Institutional Investors Weigh In On Alta Equipment Group

Several institutional investors have recently modified their holdings of the company. LPL Financial LLC lifted its position 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 worth $778,000 after purchasing an additional 1,774 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Alta Equipment Group by 5.7% during the 4th quarter. Rhumbline Advisers now owns 33,968 shares of the company's stock worth $222,000 after purchasing an additional 1,827 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Alta Equipment Group by 20.8% during the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company's stock worth $90,000 after purchasing an additional 2,375 shares during the last quarter. Barclays PLC lifted its position in shares of Alta Equipment Group by 10.8% during the 4th quarter. Barclays PLC now owns 42,479 shares of the company's stock worth $278,000 after purchasing an additional 4,152 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Alta Equipment Group by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,533 shares of the company's stock worth $82,000 after purchasing an additional 4,272 shares during the last quarter. 73.58% of the stock is owned by hedge funds and other institutional investors.

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.