Insider Selling: Alta Equipment Group Inc. (NYSE:ALTG) COO Sells $26,470.00 in Stock

Alta Equipment Group Inc. (NYSE:ALTG) COO Craig Brubaker sold 5,294 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total value of $26,470.00. Following the completion of the sale, the chief operating officer now directly owns 98,640 shares of the company’s stock, valued at $493,200. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alta Equipment Group Price Performance

Shares of NYSE ALTG opened at $4.80 on Friday. Alta Equipment Group Inc. has a twelve month low of $4.65 and a twelve month high of $13.67. The stock’s 50 day moving average price is $6.71 and its 200-day moving average price is $6.79. The company has a market capitalization of $159.46 million, a PE ratio of -2.82 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were paid a $0.057 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.75%. Alta Equipment Group’s payout ratio is presently -12.94%.

Hedge Funds Weigh In On Alta Equipment Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Mill Road Capital Management LLC lifted its stake in Alta Equipment Group by 1.3% in the fourth quarter. Mill Road Capital Management LLC now owns 4,269,508 shares of the company’s stock valued at $27,923,000 after purchasing an additional 56,300 shares during the last quarter. Portolan Capital Management LLC purchased a new position in Alta Equipment Group in the fourth quarter valued at approximately $5,561,000. Dimensional Fund Advisors LP lifted its stake in Alta Equipment Group by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 608,406 shares of the company’s stock valued at $3,979,000 after purchasing an additional 18,926 shares during the last quarter. Geode Capital Management LLC lifted its stake in Alta Equipment Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 542,607 shares of the company’s stock valued at $3,549,000 after purchasing an additional 6,692 shares during the last quarter. Finally, CastleKnight Management LP lifted its stake in Alta Equipment Group by 70.2% in the fourth quarter. CastleKnight Management LP now owns 540,986 shares of the company’s stock valued at $3,538,000 after purchasing an additional 223,072 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Wall Street Analyst Weigh In

ALTG has been the subject of a number of analyst reports. Raymond James cut their price target 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. Northland Securities reiterated a “market perform” rating and set a $20.00 price target (down previously from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Finally, Northland Capmk downgraded Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.