SG Americas Securities LLC Acquires 2,375 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

SG Americas Securities LLC raised its holdings in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 20.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,784 shares of the company’s stock after acquiring an additional 2,375 shares during the quarter. SG Americas Securities LLC’s holdings in Alta Equipment Group were worth $90,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ALTG. Mill Road Capital Management LLC grew its stake in shares of Alta Equipment Group by 18.2% in the third quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock valued at $28,397,000 after buying an additional 650,214 shares in the last quarter. State Street Corp increased its position in shares of Alta Equipment Group by 2.5% in the third quarter. State Street Corp now owns 485,892 shares of the company’s stock worth $3,275,000 after purchasing an additional 11,946 shares during the period. Paloma Partners Management Co bought a new position in shares of Alta Equipment Group in the third quarter worth $2,646,000. GSA Capital Partners LLP increased its position in shares of Alta Equipment Group by 79.2% in the third quarter. GSA Capital Partners LLP now owns 176,227 shares of the company’s stock worth $1,188,000 after purchasing an additional 77,887 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Alta Equipment Group by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 78,454 shares of the company’s stock worth $529,000 after purchasing an additional 4,747 shares during the period. 73.58% of the stock is owned by institutional investors.

Alta Equipment Group Price Performance

Shares of ALTG opened at $7.47 on Friday. 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 7.45, a quick ratio of 0.43 and a current ratio of 1.35. The business’s 50 day moving average price is $7.08 and its two-hundred day moving average price is $6.99. The firm has a market cap of $248.29 million, a PE ratio of -4.39 and a beta of 1.76.

Alta Equipment Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Saturday, February 15th will be given a dividend of $0.057 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, February 14th. Alta Equipment Group’s payout ratio is -13.53%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Raymond James decreased their target price on Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Northland Capmk cut Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $20.00 price objective (down from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Alta Equipment Group presently has an average rating of “Hold” and an average target price of $15.75.

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.