Tudor Investment Corp ET AL Invests $652,000 in Alta Equipment Group Inc. $ALTG

Tudor Investment Corp ET AL acquired a new position in Alta Equipment Group Inc. (NYSE:ALTG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 90,117 shares of the company’s stock, valued at approximately $652,000. Tudor Investment Corp ET AL owned about 0.28% of Alta Equipment Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Alta Equipment Group in the second quarter worth $35,000. R Squared Ltd acquired a new stake in shares of Alta Equipment Group in the third quarter worth $79,000. Centiva Capital LP acquired a new stake in shares of Alta Equipment Group in the third quarter worth $83,000. Jacobs Levy Equity Management Inc. acquired a new stake in Alta Equipment Group during the third quarter worth $83,000. Finally, Engineers Gate Manager LP acquired a new stake in Alta Equipment Group during the second quarter worth $81,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

Alta Equipment Group Stock Performance

Alta Equipment Group stock opened at $6.41 on Thursday. The stock has a 50-day simple moving average of $6.28 and a 200 day simple moving average of $5.90. The company has a quick ratio of 0.48, a current ratio of 1.43 and a debt-to-equity ratio of 257.10. Alta Equipment Group Inc. has a 12-month low of $3.95 and a 12-month high of $8.99. The stock has a market capitalization of $206.88 million, a price-to-earnings ratio of -2.50 and a beta of 1.57.

Alta Equipment Group (NYSE:ALTG) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). Alta Equipment Group had a negative net margin of 4.37% and a negative return on equity of 341.70%. The business had revenue of $509.10 million during the quarter, compared to the consensus estimate of $489.56 million. On average, research analysts anticipate that Alta Equipment Group Inc. will post -1.92 earnings per share for the current fiscal year.

Insider Activity at Alta Equipment Group

In related news, CFO Anthony Colucci sold 8,137 shares of Alta Equipment Group stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $7.05, for a total value of $57,365.85. Following the completion of the transaction, the chief financial officer directly owned 240,750 shares of the company’s stock, valued at $1,697,287.50. The trade was a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Greenawalt sold 27,986 shares of Alta Equipment Group stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $7.05, for a total value of $197,301.30. Following the completion of the transaction, the chief executive officer directly owned 5,721,710 shares of the company’s stock, valued at $40,338,055.50. This represents a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired 84,000 shares of company stock valued at $519,371 over the last ninety days. 19.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALTG shares. Raymond James Financial upgraded shares of Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $9.50 price target on the stock in a research note on Monday, March 9th. DA Davidson set a $7.00 price target on shares of Alta Equipment Group in a research note on Friday, March 6th. Zacks Research upgraded shares of Alta Equipment Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alta Equipment Group in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Alta Equipment Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.17.

Alta Equipment Group Profile

Alta Equipment Group, Inc (NYSE: ALTG) is a North American distributor of material handling and logistics equipment. The company offers a broad lineup of forklifts, lift trucks, aerial work platforms, tow motors, pallet jacks and related attachments, serving manufacturing, warehousing, distribution and industrial facilities. Through its network of branch locations, Alta Equipment provides customers with new and used sales, short- and long-term rentals, and integrated fleet management solutions designed to support operational efficiency.

In addition to equipment sales, Alta Equipment supports customers with comprehensive after-sales services.