Alta Equipment Group Inc. (NYSE:ALTG) Short Interest Update

Alta Equipment Group Inc. (NYSE:ALTG) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 2,070,000 shares, a decrease of 5.9% from the July 15th total of 2,200,000 shares. Based on an average daily volume of 467,200 shares, the short-interest ratio is currently 4.4 days. Approximately 10.2% of the company’s stock are short sold.

Alta Equipment Group Stock Up 1.2 %

Alta Equipment Group stock opened at $6.06 on Wednesday. The company has a debt-to-equity ratio of 4.93, a quick ratio of 0.43 and a current ratio of 1.30. Alta Equipment Group has a one year low of $5.40 and a one year high of $14.73. The company has a 50-day simple moving average of $8.59 and a 200-day simple moving average of $10.14. The firm has a market capitalization of $200.87 million, a P/E ratio of -28.86 and a beta of 1.69.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.34). The firm had revenue of $488.10 million during the quarter, compared to analyst estimates of $497.57 million. Alta Equipment Group had a negative net margin of 0.21% and a negative return on equity of 0.35%. During the same quarter in the previous year, the business posted $0.16 EPS. As a group, equities analysts expect that Alta Equipment Group will post -0.23 earnings per share for the current year.

Alta Equipment Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.057 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.23 dividend on an annualized basis and a yield of 3.76%. Alta Equipment Group’s dividend payout ratio (DPR) is presently -104.76%.

Insider Buying and Selling at Alta Equipment Group

In related news, Director Andrew P. Studdert purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired 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 owns 86,591 shares in the company, valued at $489,239.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Mill Road Capital Iii, L.P. purchased 179,414 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were acquired at an average cost of $8.05 per share, with a total value of $1,444,282.70. Following the transaction, the insider now owns 3,894,008 shares in the company, valued at approximately $31,346,764.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew P. Studdert acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $5.65 per share, with a total value of $56,500.00. Following the acquisition, the director now owns 86,591 shares of the company’s stock, valued at $489,239.15. The disclosure for this purchase can be found here. Insiders have acquired a total of 323,100 shares of company stock valued at $2,810,131 in the last three months. Corporate insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Quadrant Capital Group LLC grew its position in Alta Equipment Group by 1,997.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,063 shares of the company’s stock valued at $38,000 after buying an additional 2,917 shares in the last quarter. AJOVista LLC bought a new position in shares of Alta Equipment Group in the fourth quarter valued at approximately $59,000. Quest Partners LLC acquired a new position in shares of Alta Equipment Group during the second quarter valued at approximately $80,000. The Manufacturers Life Insurance Company bought a new stake in Alta Equipment Group during the second quarter worth approximately $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Alta Equipment Group by 37.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock worth $95,000 after purchasing an additional 3,218 shares during the period. 73.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALTG shares. DA Davidson lowered their price objective on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Raymond James reaffirmed a “market perform” rating and set a $10.00 target price (down from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th.

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.