Aristeia Capital L.L.C. Purchases New Position in Alta Equipment Group Inc. (NYSE:ALTG)

Aristeia Capital L.L.C. acquired a new position in shares of Alta Equipment Group Inc. (NYSE:ALTG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 97,958 shares of the company’s stock, valued at approximately $641,000. Aristeia Capital L.L.C. owned approximately 0.29% of Alta Equipment Group at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new position in Alta Equipment Group during the 4th quarter worth approximately $69,000. Intech Investment Management LLC acquired a new stake in shares of Alta Equipment Group in the fourth quarter valued at approximately $79,000. Wells Fargo & Company MN grew its position in shares of Alta Equipment Group by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,533 shares of the company’s stock worth $82,000 after acquiring an additional 4,272 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Alta Equipment Group by 20.8% in the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after acquiring an additional 2,375 shares during the period. Finally, MetLife Investment Management LLC raised its position in Alta Equipment Group by 49.4% in the 4th quarter. MetLife Investment Management LLC now owns 20,313 shares of the company’s stock valued at $133,000 after purchasing an additional 6,716 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Stock Up 5.8 %

ALTG stock opened at $4.74 on Friday. The stock has a market capitalization of $155.76 million, a PE ratio of -2.79 and a beta of 1.55. The company has a fifty day moving average of $4.67 and a 200-day moving average of $6.26. 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 one year low of $3.54 and a one year high of $12.09.

Alta Equipment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 4.81%. Alta Equipment Group’s payout ratio is currently -11.22%.

Insider Buying and Selling at Alta Equipment Group

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

Wall Street Analysts Forecast Growth

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

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.