Alta Equipment Group (ALTG) Set to Announce Quarterly Earnings on Thursday

Alta Equipment Group (NYSE:ALTGGet Free Report) will announce its earnings results after the market closes on Thursday, March 14th. Analysts expect the company to announce earnings of ($0.05) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Alta Equipment Group Trading Down 1.8 %

NYSE ALTG opened at $10.75 on Tuesday. The company has a debt-to-equity ratio of 4.35, a current ratio of 1.38 and a quick ratio of 0.51. The firm has a market cap of $347.98 million, a P/E ratio of 51.19 and a beta of 1.64. Alta Equipment Group has a one year low of $8.76 and a one year high of $17.98. The stock’s 50-day moving average is $11.37 and its 200-day moving average is $11.49.

Alta Equipment Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a $0.057 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 2.12%. Alta Equipment Group’s payout ratio is 109.53%.

Analyst Ratings Changes

Separately, Raymond James decreased their price objective on Alta Equipment Group from $22.00 to $19.50 and set an “outperform” rating for the company in a report on Tuesday, November 14th.

View Our Latest Research Report on ALTG

Insider Transactions at Alta Equipment Group

In other Alta Equipment Group news, major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $11.00, for a total transaction of $30,330,388.00. Following the completion of the transaction, the insider now owns 211,175 shares of the company’s stock, valued at approximately $2,322,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alta Equipment Group news, major shareholder Voss Capital, Llc bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was bought at an average cost of $10.87 per share, for a total transaction of $271,750.00. Following the completion of the transaction, the insider now directly owns 950,000 shares of the company’s stock, valued at approximately $10,326,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of Alta Equipment Group stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $11.00, for a total transaction of $30,330,388.00. Following the completion of the transaction, the insider now directly owns 211,175 shares of the company’s stock, valued at approximately $2,322,925. The disclosure for this sale can be found here. In the last three months, insiders purchased 41,108 shares of company stock worth $445,000 and sold 2,816,886 shares worth $31,011,780. 20.90% of the stock is currently owned by company insiders.

Institutional Trading of Alta Equipment Group

Several large investors have recently bought and sold shares of ALTG. Deutsche Bank AG lifted its holdings in shares of Alta Equipment Group by 17.2% in the 3rd quarter. Deutsche Bank AG now owns 11,130 shares of the company’s stock worth $134,000 after acquiring an additional 1,636 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Alta Equipment Group by 2.0% in the 2nd quarter. Renaissance Technologies LLC now owns 88,300 shares of the company’s stock valued at $792,000 after purchasing an additional 1,700 shares during the last quarter. Rhumbline Advisers increased its position in shares of Alta Equipment Group by 7.0% in the 3rd quarter. Rhumbline Advisers now owns 27,447 shares of the company’s stock valued at $331,000 after purchasing an additional 1,787 shares during the last quarter. State of Wyoming purchased a new position in shares of Alta Equipment Group in the 2nd quarter valued at $31,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Alta Equipment Group by 383.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,633 shares of the company’s stock valued at $32,000 after buying an additional 2,088 shares during the last quarter. Hedge funds and other institutional investors own 70.94% of the company’s stock.

Alta Equipment Group Company Profile

(Get Free Report)

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates in two segments, Material Handling and Construction Equipment. 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 aerial work platforms, earthmoving equipment, environmental processing equipment, and other material handling and construction equipment.

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Earnings History for Alta Equipment Group (NYSE:ALTG)

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