AJOVista LLC Buys Shares of 4,807 Alta Equipment Group Inc. (NYSE:ALTG)

AJOVista LLC purchased a new position in Alta Equipment Group Inc. (NYSE:ALTG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,807 shares of the company’s stock, valued at approximately $59,000.

Several other institutional investors have also made changes to their positions in the stock. Voss Capital LLC increased its holdings in Alta Equipment Group by 20.1% in the fourth quarter. Voss Capital LLC now owns 3,245,000 shares of the company’s stock worth $40,141,000 after buying an additional 543,500 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Alta Equipment Group by 52.7% in the third quarter. Assenagon Asset Management S.A. now owns 245,468 shares of the company’s stock worth $2,960,000 after purchasing an additional 84,678 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Alta Equipment Group during the third quarter worth about $4,558,000. Millrace Asset Group Inc. boosted its holdings in Alta Equipment Group by 62.3% during the third quarter. Millrace Asset Group Inc. now owns 136,735 shares of the company’s stock valued at $1,649,000 after purchasing an additional 52,493 shares in the last quarter. Finally, Register Financial Advisors LLC grew its stake in shares of Alta Equipment Group by 33.7% in the 4th quarter. Register Financial Advisors LLC now owns 188,730 shares of the company’s stock valued at $2,335,000 after purchasing an additional 47,568 shares during the period. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Alta Equipment Group Stock Performance

NYSE ALTG opened at $11.80 on Monday. Alta Equipment Group Inc. has a 1-year low of $8.76 and a 1-year high of $17.98. The company has a 50 day moving average of $11.90 and a 200-day moving average of $11.31. The company has a current ratio of 1.32, a quick ratio of 0.48 and a debt-to-equity ratio of 4.40. The firm has a market cap of $387.16 million, a price-to-earnings ratio of 64.94 and a beta of 1.67.

Alta Equipment Group (NYSE:ALTG) last released 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 net margin of 0.47% and a return on equity of 8.60%. The business had revenue of $521.50 million for the quarter, compared to analyst estimates of $478.68 million. On average, equities analysts forecast that Alta Equipment Group Inc. will post 0.12 earnings per share for the current fiscal year.

Alta Equipment Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a $0.057 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.93%. Alta Equipment Group’s dividend payout ratio is 127.78%.

Wall Street Analysts Forecast Growth

ALTG has been the topic of several recent analyst reports. B. Riley reaffirmed a “buy” rating and issued a $22.00 price target (down previously from $25.00) on shares of Alta Equipment Group in a research note on Friday, March 15th. DA Davidson reissued a “buy” rating and set a $22.00 price objective on shares of Alta Equipment Group in a report on Friday, March 15th.

Insider Activity at Alta Equipment Group

In other news, CFO Anthony Colucci sold 17,222 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $11.45, for a total transaction of $197,191.90. Following the sale, the chief financial officer now directly owns 156,609 shares of the company’s stock, valued at $1,793,173.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Anthony Colucci sold 17,222 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.45, for a total transaction of $197,191.90. Following the transaction, the chief financial officer now owns 156,609 shares of the company’s stock, valued at $1,793,173.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Greenawalt sold 34,951 shares of Alta Equipment Group stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $11.36, for a total value of $397,043.36. Following the completion of the sale, the chief executive officer now owns 5,842,625 shares of the company’s stock, valued at $66,372,220. The disclosure for this sale can be found here. Insiders sold 2,816,886 shares of company stock valued at $31,011,780 over the last ninety days. 20.90% of the stock is owned by insiders.

Alta Equipment Group 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.