Voss Capital LP Sells 80,000 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Voss Capital LP reduced its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,915,000 shares of the company's stock after selling 80,000 shares during the period. Alta Equipment Group accounts for approximately 1.4% of Voss Capital LP's portfolio, making the stock its 22nd biggest holding. Voss Capital LP owned 8.76% of Alta Equipment Group worth $19,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MetLife Investment Management LLC raised its stake 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 acquiring an additional 6,716 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 valued at $3,979,000 after purchasing an additional 18,926 shares during the period. Portolan Capital Management LLC acquired a new stake in shares of Alta Equipment Group in the fourth quarter worth $5,561,000. Barclays PLC boosted its holdings 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 buying an additional 4,152 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Alta Equipment Group by 51.7% in the 4th 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. Institutional investors and hedge funds own 73.58% of the company's stock.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. 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 target price for the company. Raymond James cut their price objective on Alta Equipment Group from $9.00 to $8.50 and set a "market perform" rating for the company in a research report on Monday, March 10th. Three equities 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. According to data from MarketBeat.com, Alta Equipment Group presently has a consensus rating of "Moderate Buy" and an average target price of $12.63.

Alta Equipment Group Stock Performance

Shares of ALTG traded down $0.06 during trading hours on Friday, reaching $4.46. 125,046 shares of the company traded hands, compared to its average volume of 316,244. Alta Equipment Group Inc. has a 1-year low of $3.54 and a 1-year high of $12.09. The stock has a market cap of $146.56 million, a P/E ratio of -2.62 and a beta of 1.55. The stock's fifty day moving average is $4.86 and its 200 day moving average is $6.31. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35.

Alta Equipment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were given a dividend of $0.057 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Friday, February 14th. Alta Equipment Group's dividend payout ratio is presently -11.22%.

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.