Alta Equipment Group Inc. (NYSE:ALTG) Shares Purchased by Voss Capital LLC

Voss Capital LLC increased its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 20.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,245,000 shares of the company's stock after purchasing an additional 543,500 shares during the period. Alta Equipment Group accounts for about 3.9% of Voss Capital LLC's holdings, making the stock its 6th biggest position. Voss Capital LLC owned about 10.02% of Alta Equipment Group worth $40,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of ALTG. BlackRock Inc. raised its holdings in Alta Equipment Group by 7.2% in the 2nd quarter. BlackRock Inc. now owns 2,226,359 shares of the company's stock valued at $38,583,000 after acquiring an additional 149,709 shares during the last quarter. Mill Road Capital Management LLC raised its holdings in Alta Equipment Group by 40.1% in the 4th quarter. Mill Road Capital Management LLC now owns 1,256,869 shares of the company's stock valued at $16,578,000 after acquiring an additional 359,822 shares during the last quarter. Vanguard Group Inc. raised its holdings in Alta Equipment Group by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,180,513 shares of the company's stock valued at $14,237,000 after acquiring an additional 57,809 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Alta Equipment Group by 38.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,675 shares of the company's stock valued at $8,815,000 after acquiring an additional 141,225 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Alta Equipment Group by 4.9% in the 2nd quarter. Geode Capital Management LLC now owns 432,245 shares of the company's stock valued at $7,491,000 after acquiring an additional 20,104 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of the company's stock in a transaction dated 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 sale, the insider now owns 211,175 shares in the company, valued at approximately $2,322,925. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alta Equipment Group news, major shareholder Voss Capital, Llc acquired 6,108 shares of the company's stock in a transaction that occurred on Friday, January 19th. The shares were purchased at an average price of $10.65 per share, for a total transaction of $65,050.20. Following the completion of the purchase, the insider now directly owns 975,000 shares in the company, valued at $10,383,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of the stock in a transaction dated 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 approximately $2,322,925. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 41,108 shares of company stock worth $445,000 and have sold 2,816,886 shares worth $31,011,780. Company insiders own 20.90% of the company's stock.

Alta Equipment Group Stock Down 5.4 %

ALTG stock traded down $0.67 during trading on Monday, reaching $11.71. The stock had a trading volume of 338,764 shares, compared to its average volume of 321,043. Alta Equipment Group Inc. has a 1-year low of $8.76 and a 1-year high of $17.98. The company has a current ratio of 1.32, a quick ratio of 0.48 and a debt-to-equity ratio of 4.40. The company has a market capitalization of $384.21 million, a P/E ratio of 64.83 and a beta of 1.65. The firm has a fifty day moving average price of $11.90 and a 200 day moving average price of $11.30.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The firm had revenue of $521.50 million during the quarter, compared to analyst estimates of $478.68 million. Alta Equipment Group had a return on equity of 8.60% and a net margin of 0.47%. On average, equities analysts anticipate that Alta Equipment Group Inc. will post 0.27 earnings per share for the current year.

Alta Equipment Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a $0.057 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.95%. Alta Equipment Group's dividend payout ratio (DPR) is presently 127.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. B. Riley reissued a "buy" rating and set a $22.00 price objective (down from $25.00) on shares of Alta Equipment Group in a research note on Friday, March 15th. DA Davidson reiterated a "buy" rating and issued a $22.00 price objective on shares of Alta Equipment Group in a report on Friday, March 15th.

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.

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