Quantum Private Wealth LLC Has $923,000 Stock Position in Alta Equipment Group Inc. (NYSE:ALTG)

Quantum Private Wealth LLC lifted its stake in Alta Equipment Group Inc. (NYSE:ALTG) by 17.0% in the fourth quarter, HoldingsChannel reports. The firm owned 74,580 shares of the company’s stock after purchasing an additional 10,830 shares during the period. Quantum Private Wealth LLC’s holdings in Alta Equipment Group were worth $923,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ALTG. State of Wyoming acquired a new stake in Alta Equipment Group during the 2nd quarter worth about $31,000. Tower Research Capital LLC TRC boosted its position in Alta Equipment Group by 383.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,633 shares of the company’s stock worth $32,000 after acquiring an additional 2,088 shares during the period. Lazard Asset Management LLC boosted its position in Alta Equipment Group by 2,799.0% during the 3rd quarter. Lazard Asset Management LLC now owns 2,783 shares of the company’s stock worth $33,000 after acquiring an additional 2,687 shares during the period. Group One Trading L.P. acquired a new stake in Alta Equipment Group during the 1st quarter worth about $34,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Alta Equipment Group during the 3rd quarter worth about $48,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

Alta Equipment Group Stock Up 0.3 %

Shares of ALTG traded up $0.04 during midday trading on Wednesday, reaching $11.75. 216,455 shares of the stock were exchanged, compared to its average volume of 285,825. Alta Equipment Group Inc. has a 12-month low of $8.76 and a 12-month high of $17.98. The firm has a 50 day simple moving average of $11.93 and a 200-day simple moving average of $11.30. The company has a quick ratio of 0.48, a current ratio of 1.32 and a debt-to-equity ratio of 4.40. The company has a market cap of $385.52 million, a price-to-earnings ratio of 65.28 and a beta of 1.65.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Alta Equipment Group had a return on equity of 8.60% and a net margin of 0.47%. The firm had revenue of $521.50 million for the quarter, compared to analysts’ expectations of $478.68 million. Research analysts forecast that Alta Equipment Group Inc. will post 0.27 EPS for the current year.

Alta Equipment Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, February 14th. Alta Equipment Group’s payout ratio is 127.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. B. Riley restated a “buy” rating and set a $22.00 price objective (down from $25.00) on shares of Alta Equipment Group in a research report on Friday, March 15th. DA Davidson reaffirmed a “buy” rating and set a $22.00 price target on shares of Alta Equipment Group in a research note on Friday, March 15th.

Insider Activity at Alta Equipment Group

In related news, CEO Ryan Greenawalt sold 34,951 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $11.36, for a total value of $397,043.36. Following the transaction, the chief executive officer now directly owns 5,842,625 shares of the company’s stock, valued at approximately $66,372,220. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alta Equipment Group news, CEO Ryan Greenawalt sold 34,951 shares of Alta Equipment Group stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $11.36, for a total value of $397,043.36. Following the transaction, the chief executive officer now directly owns 5,842,625 shares of the company’s stock, valued at approximately $66,372,220. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of Alta Equipment Group stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $11.00, for a total value of $30,330,388.00. Following the completion of the transaction, the insider now directly owns 211,175 shares in the company, valued at $2,322,925. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,816,886 shares of company stock valued at $31,011,780. Corporate insiders own 20.90% of the company’s stock.

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.