Squarepoint Ops LLC Buys 53,947 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Squarepoint Ops LLC grew its position in Alta Equipment Group Inc. (NYSE:ALTG) by 303.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,748 shares of the company’s stock after purchasing an additional 53,947 shares during the quarter. Squarepoint Ops LLC owned approximately 0.22% of Alta Equipment Group worth $577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Alta Equipment Group by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 567,974 shares of the company’s stock worth $4,567,000 after acquiring an additional 18,343 shares during the period. American Century Companies Inc. increased its stake in shares of Alta Equipment Group by 460.1% in the second quarter. American Century Companies Inc. now owns 211,585 shares of the company’s stock worth $1,701,000 after purchasing an additional 173,810 shares during the period. Quest Partners LLC bought a new position in shares of Alta Equipment Group in the second quarter worth about $80,000. Foundry Partners LLC lifted its position in shares of Alta Equipment Group by 17.8% during the 2nd quarter. Foundry Partners LLC now owns 346,170 shares of the company’s stock worth $2,783,000 after purchasing an additional 52,255 shares during the last quarter. Finally, Rhumbline Advisers boosted 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 valued at $253,000 after purchasing an additional 3,803 shares during the period. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alta Equipment Group

In other Alta Equipment Group news, Director Andrew P. Studdert purchased 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $5.65 per share, for a total transaction of $56,500.00. Following the completion of the purchase, the director now directly owns 86,591 shares in the company, valued at approximately $489,239.15. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Mill Road Capital Iii, L.P. bought 54,200 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $9.14 per share, for a total transaction of $495,388.00. Following the transaction, the insider now directly owns 4,063,708 shares of the company’s stock, valued at $37,142,291.12. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew P. Studdert purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $5.65 per share, with a total value of $56,500.00. Following the completion of the acquisition, the director now directly owns 86,591 shares in the company, valued at $489,239.15. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 139,686 shares of company stock valued at $1,333,168 over the last quarter. 19.90% of the stock is owned by company insiders.

Alta Equipment Group Trading Down 4.8 %

Shares of ALTG opened at $5.92 on Wednesday. The stock’s 50-day moving average price is $6.71 and its 200 day moving average price is $8.90. 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 $196.23 million, a price-to-earnings ratio of -28.19 and a beta of 1.67. 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 issued its earnings results on Wednesday, August 7th. The company reported ($0.38) 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 during the quarter, compared to analyst estimates of $497.57 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. As a group, research analysts predict that Alta Equipment Group Inc. will post -1.04 earnings per share for the current year.

Alta Equipment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.057 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.23 annualized dividend and a dividend yield of 3.85%. Alta Equipment Group’s dividend payout ratio (DPR) is currently -104.76%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALTG. Raymond James reaffirmed a “market perform” rating and issued a $10.00 price target (down from $14.00) on shares of Alta Equipment Group in a research report on Friday, August 9th. DA Davidson cut 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 note on Tuesday, August 13th.

Alta Equipment Group 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.