Alta Equipment Group Inc. (NYSE:ALTG) Stake Boosted by Foundry Partners LLC

Foundry Partners LLC grew its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346,170 shares of the company’s stock after purchasing an additional 52,255 shares during the quarter. Foundry Partners LLC’s holdings in Alta Equipment Group were worth $2,783,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ALTG. Mill Road Capital Management LLC lifted its position in Alta Equipment Group by 23.5% in the fourth quarter. Mill Road Capital Management LLC now owns 2,361,002 shares of the company’s stock worth $29,206,000 after purchasing an additional 450,023 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Alta Equipment Group by 152.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 347,746 shares of the company’s stock worth $4,302,000 after purchasing an additional 209,759 shares in the last quarter. Granahan Investment Management LLC boosted its holdings in Alta Equipment Group by 11.4% during the fourth quarter. Granahan Investment Management LLC now owns 1,030,942 shares of the company’s stock valued at $12,753,000 after acquiring an additional 105,783 shares during the period. Register Financial Advisors LLC lifted its stake in shares of Alta Equipment Group by 44.3% in the second quarter. Register Financial Advisors LLC now owns 335,702 shares of the company’s stock valued at $2,699,000 after buying an additional 103,071 shares during the period. Finally, Ancora Advisors LLC lifted its stake in shares of Alta Equipment Group by 64.1% in the first quarter. Ancora Advisors LLC now owns 262,919 shares of the company’s stock valued at $3,405,000 after buying an additional 102,660 shares during the period. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alta Equipment Group

In other news, major shareholder Mill Road Capital Iii, L.P. purchased 179,414 shares of Alta Equipment Group stock in a transaction dated Wednesday, July 10th. The shares were bought at an average cost of $8.05 per share, with a total value of $1,444,282.70. Following the completion of the transaction, the insider now directly owns 3,894,008 shares in the company, valued at approximately $31,346,764.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alta Equipment Group news, Director Andrew P. Studdert purchased 10,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $5.65 per share, for a total transaction of $56,500.00. Following the purchase, the director now owns 86,591 shares of the company’s stock, valued at $489,239.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Mill Road Capital Iii, L.P. bought 179,414 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was purchased at an average cost of $8.05 per share, for a total transaction of $1,444,282.70. Following the completion of the acquisition, the insider now owns 3,894,008 shares in the company, valued at approximately $31,346,764.40. The disclosure for this purchase can be found here. Insiders have bought a total of 319,100 shares of company stock valued at $2,777,451 over the last three months. 19.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ALTG has been the subject of several recent research reports. Raymond James reissued a “market perform” rating and issued a $10.00 price target (down previously from $14.00) on shares of Alta Equipment Group in a research report on Friday, August 9th. DA Davidson dropped their price target on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th.

Alta Equipment Group Stock Performance

NYSE ALTG opened at $6.09 on Friday. The firm has a market cap of $201.87 million, a price-to-earnings ratio of -29.00 and a beta of 1.67. The company has a 50 day moving average of $8.09 and a 200-day moving average of $9.72. The company has a current ratio of 1.37, a quick ratio of 0.47 and a debt-to-equity ratio of 5.81. Alta Equipment Group Inc. has a 1-year low of $5.40 and a 1-year high of $14.12.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). The company had revenue of $488.10 million during the quarter, compared to analyst estimates of $497.57 million. Alta Equipment Group had a negative net margin of 0.95% and a negative return on equity of 13.09%. During the same period in the prior year, the business earned $0.16 EPS. On average, equities analysts forecast that Alta Equipment Group Inc. will post -1 earnings per share for the current fiscal year.

Alta Equipment Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.057 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.74%. Alta Equipment Group’s dividend payout ratio is -104.76%.

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.