Meixler Investment Management Ltd. Purchases 6,717 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Meixler Investment Management Ltd. boosted its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 25.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,192 shares of the company’s stock after purchasing an additional 6,717 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Alta Equipment Group were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Quantum Private Wealth LLC boosted its position in Alta Equipment Group by 12.4% during the fourth quarter. Quantum Private Wealth LLC now owns 89,240 shares of the company’s stock valued at $584,000 after purchasing an additional 9,860 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Alta Equipment Group by 5.7% in the fourth quarter. Rhumbline Advisers now owns 33,968 shares of the company’s stock worth $222,000 after purchasing an additional 1,827 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Alta Equipment Group by 20.8% in the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock worth $90,000 after purchasing an additional 2,375 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alta Equipment Group by 167.8% in the third quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock worth $347,000 after purchasing an additional 32,218 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its stake in shares of Alta Equipment Group by 5.2% in the third quarter. SkyView Investment Advisors LLC now owns 47,576 shares of the company’s stock worth $321,000 after purchasing an additional 2,351 shares during the last quarter. Institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Stock Down 0.6 %

Shares of ALTG stock opened at $7.41 on Friday. The stock has a 50 day moving average of $7.07 and a 200 day moving average of $6.94. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45. The stock has a market cap of $246.29 million, a P/E ratio of -4.36 and a beta of 1.76. Alta Equipment Group Inc. has a twelve month low of $5.40 and a twelve month high of $13.67.

Alta Equipment Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Saturday, February 15th will be given a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, February 14th. Alta Equipment Group’s dividend payout ratio is currently -12.94%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ALTG shares. Northland Capmk cut Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Northland Securities restated a “market perform” rating and issued a $20.00 price objective (down from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Finally, Raymond James reduced their price objective on 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.75.

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.