Assenagon Asset Management S.A. Sells 155,191 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Assenagon Asset Management S.A. reduced its holdings in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 63.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,277 shares of the company's stock after selling 155,191 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.28% of Alta Equipment Group worth $1,117,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in ALTG. Advisor Group Holdings Inc. boosted its position in shares of Alta Equipment Group by 280.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 7,109 shares of the company's stock valued at $88,000 after purchasing an additional 5,238 shares during the period. American Century Companies Inc. acquired a new stake in shares of Alta Equipment Group in the 1st quarter valued at about $147,000. MetLife Investment Management LLC boosted its position in shares of Alta Equipment Group by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 10,902 shares of the company's stock valued at $135,000 after purchasing an additional 3,862 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Alta Equipment Group by 50.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 180,799 shares of the company's stock valued at $2,235,000 after purchasing an additional 60,253 shares during the period. Finally, Ancora Advisors LLC raised its stake in Alta Equipment Group by 54.7% during the 1st quarter. Ancora Advisors LLC now owns 101,581 shares of the company's stock valued at $1,321,000 after acquiring an additional 35,905 shares during the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.

Alta Equipment Group Price Performance

NYSE:ALTG remained flat at $12.88 during trading hours on Friday. The company's stock had a trading volume of 184,080 shares, compared to its average volume of 361,937. The firm's fifty day simple moving average is $11.72 and its 200-day simple moving average is $11.30. The stock has a market capitalization of $422.53 million, a PE ratio of 71.56 and a beta of 1.65. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.48 and a current ratio of 1.32. Alta Equipment Group Inc. has a 52-week low of $8.76 and a 52-week high of $17.98.

Alta Equipment Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, February 14th. Alta Equipment Group's dividend payout ratio (DPR) is 122.22%.

Insider Transactions at Alta Equipment Group

In other news, major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of the firm's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $11.00, for a total transaction of $30,330,388.00. Following the sale, the insider now owns 211,175 shares in the company, valued at $2,322,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Anthony Colucci sold 17,222 shares of Alta Equipment Group stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.45, for a total value of $197,191.90. Following the transaction, the chief financial officer now owns 156,609 shares in the company, valued at $1,793,173.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of Alta Equipment Group stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $11.00, for a total value of $30,330,388.00. Following the completion of the transaction, the insider now owns 211,175 shares in the company, valued at approximately $2,322,925. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 41,108 shares of company stock worth $445,000 and have sold 2,816,886 shares worth $31,011,780. Insiders own 20.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on ALTG shares. DA Davidson reaffirmed a "buy" rating and set a $22.00 price objective on shares of Alta Equipment Group in a research note on Friday, March 15th. B. Riley reissued a "buy" rating and set a $22.00 target price (down from $25.00) on shares of Alta Equipment Group in a research note on Friday, March 15th.

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.