Paloma Partners Management Co Lowers Stock Holdings in Alta Equipment Group Inc. (NYSE:ALTG)

Paloma Partners Management Co reduced its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 48.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,359 shares of the company's stock after selling 190,274 shares during the quarter. Paloma Partners Management Co owned 0.61% of Alta Equipment Group worth $1,323,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ALTG. Mill Road Capital Management LLC increased its holdings in shares of Alta Equipment Group by 1.3% during the 4th quarter. Mill Road Capital Management LLC now owns 4,269,508 shares of the company's stock valued at $27,923,000 after purchasing an additional 56,300 shares in the last quarter. Portolan Capital Management LLC acquired a new stake in shares of Alta Equipment Group in the fourth quarter valued at about $5,561,000. Dimensional Fund Advisors LP lifted its stake in shares of Alta Equipment Group by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 608,406 shares of the company's stock worth $3,979,000 after buying an additional 18,926 shares in the last quarter. Geode Capital Management LLC grew its stake in Alta Equipment Group by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 542,607 shares of the company's stock valued at $3,549,000 after acquiring an additional 6,692 shares in the last quarter. Finally, State Street Corp lifted its stake in Alta Equipment Group by 2.5% in the 3rd quarter. State Street Corp now owns 485,892 shares of the company's stock worth $3,275,000 after purchasing an additional 11,946 shares in the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James cut their price target on Alta Equipment Group from $9.00 to $8.50 and set a "market perform" rating for the company in a report on Monday, March 10th. B. Riley initiated coverage on shares of Alta Equipment Group in a research report on Thursday, March 27th. They set a "buy" rating and a $10.00 price objective for the company. Three research 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. Based on data from MarketBeat, Alta Equipment Group has a consensus rating of "Moderate Buy" and an average target price of $12.63.

Alta Equipment Group Trading Up 5.8 %

Alta Equipment Group stock traded up $0.26 during trading on Friday, hitting $4.74. The company had a trading volume of 153,654 shares, compared to its average volume of 315,093. The stock has a market cap of $155.76 million, a price-to-earnings ratio of -2.79 and a beta of 1.55. 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 1-year low of $3.54 and a 1-year high of $12.09. The company's 50 day simple moving average is $4.69 and its 200-day simple moving average is $6.27.

Alta Equipment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.057 dividend. This represents a $0.23 annualized dividend and a dividend yield of 4.81%. Alta Equipment Group's payout ratio is currently -11.22%.

Insider Buying and Selling at Alta Equipment Group

In related news, COO Craig Brubaker sold 5,294 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the completion of the sale, the chief operating officer now directly owns 98,640 shares of the company's stock, valued at $493,200. This represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.90% of the stock is owned by insiders.

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.