Steward Partners Investment Advisory LLC Raises Stock Holdings in Alta Equipment Group Inc. (NYSE:ALTG)

Steward Partners Investment Advisory LLC raised its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 20.6% during the 4th quarter, Holdings Channel reports. The fund owned 44,523 shares of the company’s stock after purchasing an additional 7,597 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Alta Equipment Group were worth $291,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mill Road Capital Management LLC raised its holdings in Alta Equipment Group by 18.2% during the 3rd quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock valued at $28,397,000 after buying an additional 650,214 shares during the period. SG Americas Securities LLC raised its holdings in Alta Equipment Group by 20.8% during the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after buying an additional 2,375 shares during the period. JPMorgan Chase & Co. raised its holdings in Alta Equipment Group by 167.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock valued at $347,000 after buying an additional 32,218 shares during the period. Paloma Partners Management Co purchased a new stake in Alta Equipment Group during the 3rd quarter valued at $2,646,000. Finally, Barclays PLC raised its holdings in Alta Equipment Group by 302.8% during the 3rd quarter. Barclays PLC now owns 38,327 shares of the company’s stock valued at $258,000 after buying an additional 28,812 shares during the period. 73.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alta Equipment Group

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.90% of the stock is currently owned by corporate insiders.

Alta Equipment Group Stock Performance

Shares of Alta Equipment Group stock opened at $5.30 on Friday. The stock’s fifty day moving average is $6.54 and its two-hundred day moving average is $6.73. The company has a market capitalization of $176.09 million, a PE ratio of -3.11 and a beta of 1.81. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45. Alta Equipment Group Inc. has a 52 week low of $4.45 and a 52 week high of $13.67.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Saturday, February 15th were given a $0.057 dividend. This represents a $0.23 annualized dividend and a yield of 4.31%. The ex-dividend date was Friday, February 14th. Alta Equipment Group’s dividend payout ratio (DPR) is presently -11.22%.

Analyst Upgrades and Downgrades

Separately, Raymond James decreased their price target on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Monday, March 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Alta Equipment Group presently has an average rating of “Hold” and an average target price of $15.63.

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.