Renaissance Technologies LLC Sells 19,400 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Renaissance Technologies LLC trimmed its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 18.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,300 shares of the company’s stock after selling 19,400 shares during the quarter. Renaissance Technologies LLC owned about 0.26% of Alta Equipment Group worth $702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALTG. Quest Partners LLC acquired a new stake in Alta Equipment Group in the 2nd quarter valued at about $80,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Alta Equipment Group by 37.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock worth $95,000 after purchasing an additional 3,218 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in Alta Equipment Group by 88.0% during the 1st quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock worth $109,000 after buying an additional 3,940 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Alta Equipment Group by 28.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,766 shares of the company’s stock valued at $127,000 after buying an additional 3,518 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of Alta Equipment Group by 42.8% in the 4th quarter. Quadrature Capital Ltd now owns 15,062 shares of the company’s stock valued at $186,000 after buying an additional 4,517 shares during the period. Institutional investors and hedge funds own 73.58% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Alta Equipment Group

In other Alta Equipment Group news, major shareholder Mill Road Capital Iii, L.P. acquired 75,486 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average price of $10.35 per share, with a total value of $781,280.10. Following the purchase, the insider now owns 3,969,494 shares of the company’s stock, valued at $41,084,262.90. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Andrew P. Studdert purchased 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $5.65 per share, with a total value of $56,500.00. Following the completion of the purchase, the director now owns 86,591 shares in the company, valued at $489,239.15. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Mill Road Capital Iii, L.P. purchased 75,486 shares of Alta Equipment Group stock in a transaction dated Wednesday, July 31st. The stock was bought at an average price of $10.35 per share, with a total value of $781,280.10. Following the acquisition, the insider now directly owns 3,969,494 shares of the company’s stock, valued at approximately $41,084,262.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 139,686 shares of company stock valued at $1,333,168. Corporate insiders own 19.90% of the company’s stock.

Alta Equipment Group Stock Performance

Shares of Alta Equipment Group stock opened at $5.92 on Wednesday. Alta Equipment Group Inc. has a 52 week low of $5.40 and a 52 week high of $13.67. The company has a debt-to-equity ratio of 5.81, a quick ratio of 0.47 and a current ratio of 1.37. The stock has a market capitalization of $196.23 million, a price-to-earnings ratio of -28.19 and a beta of 1.67. The firm has a fifty day moving average of $6.71 and a two-hundred day moving average of $8.90.

Alta Equipment Group (NYSE:ALTG) last released its earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.34). The company had revenue of $488.10 million during the quarter, compared to analyst estimates of $497.57 million. Alta Equipment Group had a negative net margin of 0.95% and a negative return on equity of 13.09%. During the same period in the previous year, the company posted $0.16 EPS. As a group, equities research analysts predict that Alta Equipment Group Inc. will post -1.04 EPS for the current year.

Alta Equipment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a dividend of $0.057 per share. This represents a $0.23 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, August 15th. Alta Equipment Group’s dividend payout ratio is currently -104.76%.

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.