Alta Equipment Group Inc. (NYSE:ALTG) Stock Holdings Lifted by American Century Companies Inc.

American Century Companies Inc. increased its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 460.1% during the second quarter, Holdings Channel reports. The fund owned 211,585 shares of the company’s stock after acquiring an additional 173,810 shares during the quarter. American Century Companies Inc.’s holdings in Alta Equipment Group were worth $1,701,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mill Road Capital Management LLC raised its stake in Alta Equipment Group by 23.5% during the 4th quarter. Mill Road Capital Management LLC now owns 2,361,002 shares of the company’s stock valued at $29,206,000 after purchasing an additional 450,023 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of 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 buying an additional 209,759 shares during the period. Granahan Investment Management LLC grew its holdings in shares of 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 buying an additional 105,783 shares in the last quarter. Register Financial Advisors LLC raised 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 buying an additional 103,071 shares during the period. Finally, Ancora Advisors LLC raised its position 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 buying an additional 102,660 shares during the period. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Price Performance

Shares of NYSE:ALTG opened at $6.51 on Monday. The firm has a market cap of $215.79 million, a price-to-earnings ratio of -31.00 and a beta of 1.67. Alta Equipment Group Inc. has a 1 year low of $5.40 and a 1 year high of $13.67. The company has a current ratio of 1.37, a quick ratio of 0.47 and a debt-to-equity ratio of 5.81. The business has a fifty day simple moving average of $7.32 and a 200 day simple moving average of $9.17.

Alta Equipment Group (NYSE:ALTG) last posted 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 firm had revenue of $488.10 million for the quarter, compared to analysts’ expectations of $497.57 million. Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. During the same period last year, the business earned $0.16 earnings per share. As a group, sell-side analysts predict that Alta Equipment Group Inc. will post -1.04 earnings per share for the current fiscal year.

Alta Equipment Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.057 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.23 annualized dividend and a dividend yield of 3.50%. Alta Equipment Group’s dividend payout ratio (DPR) is -104.76%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALTG. Raymond James restated a “market perform” rating and set a $10.00 price objective (down from $14.00) on shares of Alta Equipment Group in a research report on Friday, August 9th. DA Davidson decreased 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 report on Tuesday, August 13th.

Insider Activity

In related news, Director Andrew P. Studdert bought 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $5.65 per share, for a total transaction of $56,500.00. Following the completion of the acquisition, the director now directly owns 86,591 shares in the company, valued at $489,239.15. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Mill Road Capital Iii, L.P. bought 179,414 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were acquired at an average cost of $8.05 per share, for a total transaction of $1,444,282.70. Following the purchase, the insider now owns 3,894,008 shares of the company’s stock, valued at approximately $31,346,764.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew P. Studdert bought 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $5.65 per share, with a total value of $56,500.00. Following the transaction, the director now owns 86,591 shares in the company, valued at $489,239.15. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 319,100 shares of company stock worth $2,777,451. 19.90% of the stock is owned by corporate insiders.

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.