272 Capital LP Has $3.94 Million Stake in Alta Equipment Group Inc. (NYSE:ALTG)

272 Capital LP lowered its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 59.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 489,742 shares of the company’s stock after selling 726,443 shares during the quarter. Alta Equipment Group comprises about 2.0% of 272 Capital LP’s investment portfolio, making the stock its 19th largest position. 272 Capital LP owned 1.48% of Alta Equipment Group worth $3,938,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mill Road Capital Management LLC increased its holdings in shares of Alta Equipment Group by 23.5% in the fourth quarter. Mill Road Capital Management LLC now owns 2,361,002 shares of the company’s stock valued at $29,206,000 after purchasing an additional 450,023 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Alta Equipment Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,250,154 shares of the company’s stock valued at $16,189,000 after buying an additional 8,962 shares during the period. Granahan Investment Management LLC raised its position in shares of Alta Equipment Group by 11.4% during the fourth quarter. Granahan Investment Management LLC now owns 1,030,942 shares of the company’s stock worth $12,753,000 after acquiring an additional 105,783 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Alta Equipment Group by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 567,974 shares of the company’s stock valued at $4,567,000 after acquiring an additional 18,343 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Alta Equipment Group by 152.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 347,746 shares of the company’s stock valued at $4,302,000 after acquiring an additional 209,759 shares during the last quarter. Institutional investors own 73.58% of the company’s stock.

Analyst Upgrades and Downgrades

ALTG has been the subject of several recent research reports. Raymond James reissued a “market perform” rating and set a $10.00 price objective (down from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th. DA Davidson lowered their price target on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th.

Alta Equipment Group Stock Down 3.9 %

Shares of Alta Equipment Group stock opened at $6.40 on Tuesday. The business has a fifty day simple moving average of $7.66 and a 200 day simple moving average of $9.30. The stock has a market cap of $212.14 million, a PE ratio of -30.48 and a beta of 1.67. The company has a quick ratio of 0.47, a current ratio of 1.37 and a debt-to-equity ratio of 5.81. 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 posted its earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.34). The company had revenue of $488.10 million for the quarter, compared to analyst estimates of $497.57 million. Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Research analysts predict that Alta Equipment Group Inc. will post -1.04 EPS for the current year.

Alta Equipment Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a $0.057 dividend. This represents a $0.23 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Thursday, August 15th. Alta Equipment Group’s payout ratio is presently -104.76%.

Insiders Place Their Bets

In other news, Director Andrew P. Studdert purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $5.65 per share, with a total value of $56,500.00. Following the acquisition, the director now directly owns 86,591 shares of the company’s stock, valued at $489,239.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Mill Road Capital Iii, L.P. purchased 75,486 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were purchased at an average price of $10.35 per share, with a total value of $781,280.10. Following the completion of the purchase, the insider now owns 3,969,494 shares in the company, valued at approximately $41,084,262.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew P. Studdert acquired 10,000 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $5.65 per share, with a total value of $56,500.00. Following the transaction, the director now directly owns 86,591 shares of the company’s stock, valued at $489,239.15. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 319,100 shares of company stock worth $2,777,451. Company insiders own 19.90% of the company’s stock.

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.