Alta Equipment Group Inc. (NYSE:ALTG) Stock Holdings Lifted by Mill Road Capital Management LLC

Mill Road Capital Management LLC boosted its stake in Alta Equipment Group Inc. (NYSE:ALTG) by 18.2% during the third quarter, Holdings Channel.com reports. The fund owned 4,213,208 shares of the company’s stock after purchasing an additional 650,214 shares during the quarter. Alta Equipment Group comprises 13.5% of Mill Road Capital Management LLC’s investment portfolio, making the stock its biggest position. Mill Road Capital Management LLC owned about 0.13% of Alta Equipment Group worth $28,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in Alta Equipment Group in the 2nd quarter valued at about $80,000. The Manufacturers Life Insurance Company purchased a new stake in Alta Equipment Group during the 2nd quarter worth approximately $89,000. SG Americas Securities LLC acquired a new position in shares of Alta Equipment Group during the third quarter valued at approximately $77,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Alta Equipment Group by 37.5% in the second 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 in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Alta Equipment Group by 28.7% in the second quarter. Harbor Capital Advisors Inc. now owns 15,766 shares of the company’s stock worth $127,000 after acquiring an additional 3,518 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Insider Activity

In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the firm’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 sale, the insider now directly owns 963,689 shares in the company, valued at approximately $6,080,877.59. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 19.90% of the company’s stock.

Alta Equipment Group Stock Performance

Alta Equipment Group stock opened at $7.79 on Wednesday. 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 twelve month low of $5.40 and a twelve month high of $13.67. The stock’s fifty day simple moving average is $6.84 and its 200-day simple moving average is $7.61.

Alta Equipment Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Friday, November 15th. Alta Equipment Group’s dividend payout ratio is currently -13.53%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ALTG shares. Northland Securities restated a “market perform” rating and set a $20.00 target price (down from $30.00) on shares of Alta Equipment Group in a report on Wednesday, November 13th. Raymond James lowered their target price on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Northland Capmk lowered shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, DA Davidson dropped their target price on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Alta Equipment Group presently has a consensus rating of “Hold” and an average target price of $15.75.

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.