SkyView Investment Advisors LLC Increases Stock Holdings in Alta Equipment Group Inc. (NYSE:ALTG)

SkyView Investment Advisors LLC boosted its holdings in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 14.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,225 shares of the company’s stock after buying an additional 5,537 shares during the period. SkyView Investment Advisors LLC owned approximately 0.14% of Alta Equipment Group worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in shares of Alta Equipment Group during the second quarter valued at about $80,000. The Manufacturers Life Insurance Company acquired a new position in Alta Equipment Group during the 2nd quarter valued at approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Alta Equipment Group by 37.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock valued at $95,000 after purchasing an additional 3,218 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of Alta Equipment Group by 88.0% in the first quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock worth $109,000 after buying an additional 3,940 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Alta Equipment Group by 28.7% during the second quarter. Harbor Capital Advisors Inc. now owns 15,766 shares of the company’s stock worth $127,000 after buying an additional 3,518 shares during the period. 73.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. DA Davidson cut their target price on 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. Raymond James reissued a “market perform” rating and issued a $10.00 price objective (down from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th.

Insiders Place Their Bets

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

Alta Equipment Group Stock Up 1.2 %

ALTG stock opened at $6.51 on Monday. The company has a market capitalization of $215.79 million, a P/E ratio of -31.00 and a beta of 1.67. Alta Equipment Group Inc. has a 12 month low of $5.40 and a 12 month high of $13.67. The firm’s fifty day simple moving average is $7.32 and its 200-day simple moving average is $9.17. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.37 and a quick ratio of 0.47.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.34). The company had revenue of $488.10 million for the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.16 earnings per share. As a group, equities research analysts forecast that Alta Equipment Group Inc. will post -1.04 earnings per share for the current year.

Alta Equipment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, August 15th. Alta Equipment Group’s payout ratio is presently -104.76%.

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.