Alta Equipment Group Inc. (NYSE:ALTG) Major Shareholder Sells $71,372.41 in Stock

Alta Equipment Group Inc. (NYSE:ALTG) major shareholder Voss Capital, Lp sold 11,311 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total value of $71,372.41. Following the transaction, the insider now directly owns 963,689 shares in the company, valued at approximately $6,080,877.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Alta Equipment Group Trading Up 1.5 %

Shares of NYSE:ALTG opened at $6.60 on Monday. The stock’s 50-day simple moving average is $6.38 and its two-hundred day simple moving average is $8.11. The stock has a market capitalization of $218.39 million, a price-to-earnings ratio of -10.31 and a beta of 1.67. Alta Equipment Group Inc. has a 52-week low of $5.40 and a 52-week high of $13.67. The company has a debt-to-equity ratio of 5.81, a quick ratio of 0.47 and a current ratio of 1.37.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. The business had revenue of $488.10 million during the quarter, compared to analysts’ expectations of $497.57 million. During the same period in the previous year, the business posted $0.16 EPS. Analysts expect that Alta Equipment Group Inc. will post -1.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALTG shares. Raymond James reissued a “market perform” rating and issued a $10.00 target price (down previously from $14.00) on shares of Alta Equipment Group in a research report on Friday, August 9th. DA Davidson dropped their target price on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Institutional Investors Weigh In On Alta Equipment Group

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Alta Equipment Group during the third quarter valued at $77,000. Quest Partners LLC bought a new position in shares of Alta Equipment Group in the second quarter worth about $80,000. The Manufacturers Life Insurance Company purchased a new position in shares of Alta Equipment Group during the 2nd quarter valued at about $89,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Alta Equipment Group by 37.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock valued at $95,000 after acquiring an additional 3,218 shares during the period. Finally, EntryPoint Capital LLC increased its holdings in Alta Equipment Group by 88.0% in the 1st quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock worth $109,000 after acquiring an additional 3,940 shares in the last quarter. Institutional investors own 73.58% of the company’s stock.

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.