Royce & Associates LP Sells 42,884 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Royce & Associates LP lessened its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 15.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 232,235 shares of the company’s stock after selling 42,884 shares during the period. Royce & Associates LP owned about 0.70% of Alta Equipment Group worth $1,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nantahala Capital Management LLC raised its position in Alta Equipment Group by 108.2% in the second quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock worth $6,739,000 after acquiring an additional 435,713 shares during the period. American Century Companies Inc. raised its holdings in Alta Equipment Group by 460.1% in the 2nd quarter. American Century Companies Inc. now owns 211,585 shares of the company’s stock worth $1,701,000 after purchasing an additional 173,810 shares during the period. Register Financial Advisors LLC lifted its position in Alta Equipment Group by 44.3% during the second quarter. Register Financial Advisors LLC now owns 335,702 shares of the company’s stock valued at $2,699,000 after purchasing an additional 103,071 shares in the last quarter. Ancora Advisors LLC grew its holdings in Alta Equipment Group by 64.1% during the first quarter. Ancora Advisors LLC now owns 262,919 shares of the company’s stock valued at $3,405,000 after purchasing an additional 102,660 shares during the period. Finally, JCP Investment Management LLC purchased a new stake in Alta Equipment Group in the second quarter worth about $721,000. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALTG. Raymond James cut their price objective on Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Northland Securities reiterated a “market perform” rating and issued a $20.00 price target (down from $30.00) on shares of Alta Equipment Group in a research report on Wednesday, November 13th. DA Davidson decreased their price objective on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Northland Capmk downgraded shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.75.

Insiders Place Their Bets

In other Alta Equipment Group news, major shareholder Voss Capital, Lp sold 11,311 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total transaction of $71,372.41. Following the sale, the insider now directly owns 963,689 shares in the company, valued at $6,080,877.59. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 19.90% of the company’s stock.

Alta Equipment Group Price Performance

Shares of NYSE:ALTG opened at $7.13 on Wednesday. The firm has a market cap of $235.77 million, a price-to-earnings ratio of -4.19 and a beta of 1.67. The firm has a fifty day moving average price of $6.59 and a 200 day moving average price of $7.74. Alta Equipment Group Inc. has a fifty-two week low of $5.40 and a fifty-two week high of $13.67. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35.

Alta Equipment Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, November 15th. Alta Equipment Group’s dividend payout ratio is presently -13.53%.

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.