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 Alta Equipment Group stock in a transaction that occurred on Friday, May 30th. The stock was acquired at an average price of $4.80 per share, for a total transaction of $15,633.60. Following the transaction, the director now directly owns 96,591 shares of the company's stock, valued at $463,636.80. The trade was a 3.49% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Alta Equipment Group Stock Up 6.4%

NYSE:ALTG traded up $0.35 during mid-day trading on Thursday, reaching $5.79. The company's stock had a trading volume of 166,465 shares, compared to its average volume of 287,416. Alta Equipment Group Inc. has a 1 year low of $3.54 and a 1 year high of $11.39. The stock has a fifty day moving average of $4.63 and a 200-day moving average of $5.96. The firm has a market capitalization of $190.26 million, a PE ratio of -3.41 and a beta of 1.53. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) 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 net margin of 2.81% and a negative return on equity of 42.09%. Equities research analysts forecast that Alta Equipment Group Inc. will post -1.92 earnings per share for the current year.

Alta Equipment Group Announces Dividend

The company also recently declared 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. This represents a $0.23 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, May 15th. Alta Equipment Group's payout ratio is -9.87%.

Analysts Set New Price Targets

A number of research firms have weighed in on ALTG. Raymond James cut their price objective on shares of 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. B. Riley assumed coverage on shares of Alta Equipment Group in a report on Thursday, March 27th. They issued a "buy" rating and a $10.00 price target on the stock. Finally, DA Davidson lowered 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 note on Monday, May 19th. Three 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.25.

Institutional Trading of Alta Equipment Group

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Alta Equipment Group during the fourth quarter valued at about $69,000. Intech Investment Management LLC purchased a new stake in shares of Alta Equipment Group during the fourth quarter valued at about $79,000. Wells Fargo & Company MN lifted 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 valued at $82,000 after buying an additional 4,272 shares during the last quarter. SG Americas Securities LLC lifted 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 valued at $90,000 after buying an additional 2,375 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position 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 valued at $133,000 after purchasing an additional 6,716 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.