Alta Equipment Group Inc. (NYSE:ALTG) Shares Sold by 272 Capital LP

272 Capital LP lessened its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 15.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 415,489 shares of the company’s stock after selling 74,253 shares during the period. Alta Equipment Group comprises about 1.4% of 272 Capital LP’s portfolio, making the stock its 27th largest holding. 272 Capital LP owned 1.25% of Alta Equipment Group worth $2,800,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mill Road Capital Management LLC lifted its holdings 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 purchasing an additional 650,214 shares in the last quarter. Nantahala Capital Management LLC lifted its holdings in shares of Alta Equipment Group by 108.2% in the second quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after purchasing an additional 435,713 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Alta Equipment Group in the third quarter valued at $2,646,000. American Century Companies Inc. lifted its holdings in shares of Alta Equipment Group by 460.1% in the second quarter. American Century Companies Inc. now owns 211,585 shares of the company’s stock valued at $1,701,000 after purchasing an additional 173,810 shares in the last quarter. Finally, JCP Investment Management LLC purchased a new stake in shares of Alta Equipment Group in the second quarter valued at $721,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ALTG shares. Northland Capmk downgraded shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Raymond James dropped their price target on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $20.00 price target (down from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.75.

Insiders Place Their Bets

In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total value of $71,372.41. Following the sale, the insider now directly owns 963,689 shares of the company’s stock, valued at approximately $6,080,877.59. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.90% of the company’s stock.

Alta Equipment Group Trading Down 7.6 %

Alta Equipment Group stock opened at $6.90 on Friday. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43. The company has a market capitalization of $229.47 million, a price-to-earnings ratio of -4.39 and a beta of 1.71. Alta Equipment Group Inc. has a one year low of $5.40 and a one year high of $13.67. The company’s fifty day moving average price is $7.06 and its two-hundred day moving average price is $7.58.

Alta Equipment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a yield of 3.30%. The ex-dividend date was Friday, November 15th. Alta Equipment Group’s payout ratio is -12.94%.

About Alta Equipment Group

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.