Quadrature Capital Ltd Has $186,000 Holdings in Alta Equipment Group Inc. (NYSE:ALTG)

Quadrature Capital Ltd boosted its stake in Alta Equipment Group Inc. (NYSE:ALTG) by 42.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,062 shares of the company’s stock after purchasing an additional 4,517 shares during the quarter. Quadrature Capital Ltd’s holdings in Alta Equipment Group were worth $186,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Alta Equipment Group by 256.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 116,090 shares of the company’s stock valued at $1,400,000 after acquiring an additional 83,477 shares during the last quarter. Ancora Advisors LLC grew its position in Alta Equipment Group by 15.6% in the third quarter. Ancora Advisors LLC now owns 170,112 shares of the company’s stock valued at $2,052,000 after acquiring an additional 23,000 shares during the last quarter. Corton Capital Inc. bought a new position in Alta Equipment Group in the third quarter valued at about $126,000. First Dallas Securities Inc. bought a new position in Alta Equipment Group in the third quarter valued at about $1,989,000. Finally, Manatuck Hill Partners LLC bought a new position in Alta Equipment Group in the third quarter valued at about $2,412,000. Institutional investors and hedge funds 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 decreased their target price on Alta Equipment Group from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. B. Riley restated a “buy” rating and set a $22.00 price target (down from $25.00) on shares of Alta Equipment Group in a report on Friday, March 15th.

Alta Equipment Group Price Performance

Shares of ALTG opened at $8.04 on Friday. Alta Equipment Group Inc. has a 52-week low of $7.64 and a 52-week high of $17.98. The company has a debt-to-equity ratio of 4.93, a quick ratio of 0.43 and a current ratio of 1.30. The business’s 50 day moving average price is $9.44 and its two-hundred day moving average price is $10.95. The firm has a market cap of $266.53 million, a PE ratio of -38.29 and a beta of 1.66.

Alta Equipment Group (NYSE:ALTG) last issued its earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.17). Alta Equipment Group had a negative return on equity of 0.35% and a negative net margin of 0.21%. The firm had revenue of $441.60 million for the quarter, compared to analyst estimates of $416.35 million. On average, equities analysts anticipate that Alta Equipment Group Inc. will post -0.37 EPS for the current year.

Alta Equipment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a dividend of $0.057 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.23 annualized dividend and a yield of 2.84%. Alta Equipment Group’s dividend payout ratio (DPR) is currently -109.52%.

Insider Buying and Selling

In related news, insider Jeffrey Alan Hoover purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average price of $8.17 per share, for a total transaction of $32,680.00. Following the completion of the acquisition, the insider now owns 11,601 shares of the company’s stock, valued at approximately $94,780.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.90% of the stock is currently owned by corporate insiders.

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.