SG Americas Securities LLC Makes New $77,000 Investment in Alta Equipment Group Inc. (NYSE:ALTG)

SG Americas Securities LLC purchased a new stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 11,409 shares of the company’s stock, valued at approximately $77,000.

Other large investors have also made changes to their positions in the company. Nantahala Capital Management LLC raised its position in Alta Equipment Group by 108.2% during the second quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after acquiring an additional 435,713 shares in the last quarter. Ironwood Investment Management LLC acquired a new position in shares of Alta Equipment Group during the 2nd quarter worth $158,000. SkyView Investment Advisors LLC raised its holdings in shares of Alta Equipment Group by 14.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 45,225 shares of the company’s stock valued at $364,000 after purchasing an additional 5,537 shares in the last quarter. JCP Investment Management LLC acquired a new stake in shares of Alta Equipment Group in the 2nd quarter valued at $721,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Alta Equipment Group in the second quarter worth $89,000. Institutional investors own 73.58% of the company’s stock.

Insider Transactions at Alta Equipment Group

In related news, major shareholder Mill Road Capital Iii, L.P. bought 75,486 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of $10.35 per share, for a total transaction of $781,280.10. Following the purchase, the insider now directly owns 3,969,494 shares in the company, valued at $41,084,262.90. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Andrew P. Studdert acquired 10,000 shares of Alta Equipment Group stock in a transaction on Monday, August 12th. The stock was bought at an average price of $5.65 per share, for a total transaction of $56,500.00. Following the transaction, the director now owns 86,591 shares of the company’s stock, valued at $489,239.15. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Mill Road Capital Iii, L.P. acquired 75,486 shares of the stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average price of $10.35 per share, for a total transaction of $781,280.10. Following the completion of the transaction, the insider now owns 3,969,494 shares of the company’s stock, valued at $41,084,262.90. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 139,686 shares of company stock worth $1,333,168 over the last three months. 19.90% of the stock is currently owned by insiders.

Alta Equipment Group Price Performance

NYSE ALTG opened at $6.70 on Tuesday. The company has a market cap of $222.08 million, a P/E ratio of -31.90 and a beta of 1.67. Alta Equipment Group Inc. has a 1 year low of $5.40 and a 1 year high of $13.67. The company has a current ratio of 1.37, a quick ratio of 0.47 and a debt-to-equity ratio of 5.81. The company has a fifty day simple moving average of $6.36 and a 200 day simple moving average of $8.24.

Alta Equipment Group (NYSE:ALTG) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). Alta Equipment Group had a negative net margin of 0.95% and a negative return on equity of 13.09%. The firm had revenue of $488.10 million for the quarter, compared to the consensus estimate of $497.57 million. During the same quarter last year, the company earned $0.16 earnings per share. On average, sell-side analysts predict that Alta Equipment Group Inc. will post -1.08 EPS for the current year.

Alta Equipment Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a $0.057 dividend. This represents a $0.23 annualized dividend and a yield of 3.40%. The ex-dividend date was Thursday, August 15th. Alta Equipment Group’s dividend payout ratio is currently -104.76%.

Analyst Upgrades and Downgrades

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

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.