Voss Capital LP Sells 80,000 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Voss Capital LP reduced its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,915,000 shares of the company’s stock after selling 80,000 shares during the period. Alta Equipment Group comprises about 1.4% of Voss Capital LP’s investment portfolio, making the stock its 22nd largest holding. Voss Capital LP owned about 0.09% of Alta Equipment Group worth $19,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock worth $90,000 after buying an additional 2,375 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alta Equipment Group by 167.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock worth $347,000 after acquiring an additional 32,218 shares in the last quarter. Barclays PLC grew its stake in shares of Alta Equipment Group by 302.8% in the 3rd quarter. Barclays PLC now owns 38,327 shares of the company’s stock worth $258,000 after acquiring an additional 28,812 shares in the last quarter. State Street Corp raised its holdings 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 valued at $3,275,000 after purchasing an additional 11,946 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Alta Equipment Group by 20.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 44,523 shares of the company’s stock valued at $291,000 after purchasing an additional 7,597 shares in the last quarter. 73.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Craig Brubaker sold 5,294 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total transaction of $26,470.00. Following the completion of the transaction, the chief operating officer now owns 98,640 shares in the company, valued at approximately $493,200. This represents a 5.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALTG shares. Raymond James reduced their price objective on shares of Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Monday, March 10th. B. Riley assumed coverage on Alta Equipment Group in a report on Thursday, March 27th. They issued a “buy” rating and a $10.00 target price for the company. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Alta Equipment Group presently has a consensus rating of “Moderate Buy” and an average target price of $12.63.

Alta Equipment Group Stock Performance

NYSE ALTG opened at $4.19 on Monday. The company has a market capitalization of $137.52 million, a PE ratio of -2.46 and a beta of 1.55. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. Alta Equipment Group Inc. has a 52-week low of $3.54 and a 52-week high of $12.09. The company has a 50-day simple moving average of $5.18 and a 200 day simple moving average of $6.38.

Alta Equipment Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were paid a dividend of $0.057 per share. The ex-dividend date was Friday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 5.45%. Alta Equipment Group’s payout ratio is currently -11.22%.

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.