B. Riley Wealth Advisors Inc. Invests $190,000 in Alta Equipment Group Inc. (NYSE:ALTG)

B. Riley Wealth Advisors Inc. purchased a new stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 15,326 shares of the company’s stock, valued at approximately $190,000.

Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in Alta Equipment Group by 1,997.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,063 shares of the company’s stock valued at $38,000 after acquiring an additional 2,917 shares in the last quarter. AJOVista LLC purchased a new position in Alta Equipment Group in the fourth quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Alta Equipment Group by 77.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,577 shares of the company’s stock valued at $106,000 after buying an additional 3,740 shares in the last quarter. Corton Capital Inc. purchased a new position in Alta Equipment Group in the third quarter valued at about $126,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Alta Equipment Group in the third quarter valued at approximately $127,000. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Price Performance

Shares of ALTG opened at $8.04 on Friday. The company’s fifty day moving average is $9.37 and its two-hundred day moving average is $10.94. Alta Equipment Group Inc. has a fifty-two week low of $7.64 and a fifty-two week high of $17.98. The company has a quick ratio of 0.43, a current ratio of 1.30 and a debt-to-equity ratio of 4.93. The firm has a market cap of $266.53 million, a PE ratio of -38.29 and a beta of 1.66.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.17). Alta Equipment Group had a negative return on equity of 0.35% and a negative net margin of 0.21%. The business had revenue of $441.60 million for the quarter, compared to analysts’ expectations of $416.35 million. Analysts forecast that Alta Equipment Group Inc. will post -0.37 earnings per share for the current year.

Alta Equipment Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were paid a $0.057 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.84%. Alta Equipment Group’s dividend payout ratio (DPR) is presently -109.52%.

Insider Activity

In other Alta Equipment Group news, insider Jeffrey Alan Hoover acquired 4,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average price of $8.17 per share, with a total value of $32,680.00. Following the transaction, the insider now directly owns 11,601 shares in the company, valued at $94,780.17. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALTG. B. Riley reiterated a “buy” rating and issued a $22.00 price target (down from $25.00) on shares of Alta Equipment Group in a research report on Friday, March 15th. DA Davidson decreased their target price on shares of Alta Equipment Group from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st.

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.