Nantahala Capital Management LLC Has $6.74 Million Stock Position in Alta Equipment Group Inc. (NYSE:ALTG)

Nantahala Capital Management LLC lifted its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 108.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 838,222 shares of the company’s stock after acquiring an additional 435,713 shares during the period. Nantahala Capital Management LLC owned approximately 2.53% of Alta Equipment Group worth $6,739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALTG. Essex Investment Management Co. LLC grew its holdings in shares of Alta Equipment Group by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 166,831 shares of the company’s stock valued at $2,160,000 after acquiring an additional 2,517 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Alta Equipment Group by 37.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock valued at $95,000 after buying an additional 3,218 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Alta Equipment Group by 28.7% during the second quarter. Harbor Capital Advisors Inc. now owns 15,766 shares of the company’s stock worth $127,000 after buying an additional 3,518 shares in the last quarter. Rhumbline Advisers increased its stake in Alta Equipment Group by 13.7% during the 2nd quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock worth $253,000 after acquiring an additional 3,803 shares during the period. Finally, EntryPoint Capital LLC lifted its position in shares of Alta Equipment Group by 88.0% during the 1st quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock valued at $109,000 after acquiring an additional 3,940 shares during the period. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alta Equipment Group

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

Analyst Ratings Changes

Several brokerages have recently commented on ALTG. DA Davidson dropped their target price 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. Raymond James reissued a “market perform” rating and set a $10.00 target price (down previously from $14.00) on shares of Alta Equipment Group in a research note on Friday, August 9th.

Alta Equipment Group Trading Up 3.5 %

Shares of ALTG stock opened at $6.74 on Tuesday. Alta Equipment Group Inc. has a twelve month low of $5.40 and a twelve month high of $13.67. The stock’s fifty day simple moving average is $7.24 and its 200 day simple moving average is $9.15. The company has a quick ratio of 0.47, a current ratio of 1.37 and a debt-to-equity ratio of 5.81. The firm has a market capitalization of $223.41 million, a P/E ratio of -32.10 and a beta of 1.67.

Alta Equipment Group (NYSE:ALTG) last released its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $497.57 million. During the same period in the prior year, the company earned $0.16 EPS. As a group, sell-side analysts predict that Alta Equipment Group Inc. will post -1.04 EPS for the current fiscal year.

Alta Equipment Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Thursday, August 15th. Alta Equipment Group’s payout ratio is presently -104.76%.

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.