Alta Equipment Group Inc. (NYSE:ALTG) Major Shareholder Voss Capital, Lp Sells 11,311 Shares

Alta Equipment Group Inc. (NYSE:ALTG) major shareholder Voss Capital, Lp sold 11,311 shares of Alta Equipment Group 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 of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Alta Equipment Group Price Performance

Shares of ALTG stock opened at $6.60 on Friday. The stock has a 50-day moving average price of $6.38 and a 200 day moving average price of $8.14. The company has a quick ratio of 0.47, a current ratio of 1.37 and a debt-to-equity ratio of 5.81. The firm has a market cap of $218.41 million, a price-to-earnings ratio of -10.31 and a beta of 1.67. Alta Equipment Group Inc. has a 12 month low of $5.40 and a 12 month high of $13.67.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.38) 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 firm had revenue of $488.10 million during the quarter, compared to analyst estimates of $497.57 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. Research analysts expect that Alta Equipment Group Inc. will post -1.08 EPS for the current year.

Hedge Funds Weigh In On Alta Equipment Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC boosted its holdings in Alta Equipment Group by 88.0% during the first quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock worth $109,000 after buying an additional 3,940 shares during the last quarter. Quest Partners LLC bought a new position in Alta Equipment Group during the second quarter worth about $80,000. The Manufacturers Life Insurance Company bought a new position in Alta Equipment Group during the second quarter worth about $89,000. SG Americas Securities LLC bought a new position in Alta Equipment Group during the third quarter worth about $77,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Alta Equipment Group by 37.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock worth $95,000 after buying an additional 3,218 shares during the last quarter. Institutional investors own 73.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. DA Davidson cut their price objective on Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Raymond James restated a “market perform” rating and issued a $10.00 target price (down from $14.00) on shares of Alta Equipment Group in a research note on Friday, August 9th.

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.