Alta Equipment Group Inc. (NYSE:ALTG) Major Shareholder Voss Capital, Lp Sells 11,311 Shares

Alta Equipment Group Inc. (NYSE:ALTG) major shareholder Voss Capital, Lp sold 11,311 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total transaction of $71,372.41. Following the transaction, the insider now directly owns 963,689 shares of the company’s stock, valued at approximately $6,080,877.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Alta Equipment Group Stock Up 1.5 %

ALTG opened at $6.60 on Friday. 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 stock has a market capitalization of $218.41 million, a price-to-earnings ratio of -10.31 and a beta of 1.67. The business has a 50 day moving average of $6.38 and a 200-day moving average of $8.14.

Alta Equipment Group (NYSE:ALTG) last issued its earnings results on Wednesday, August 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.34). The firm had revenue of $488.10 million during the quarter, compared to the consensus estimate 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 anticipate that Alta Equipment Group Inc. will post -1.08 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on ALTG. Raymond James reiterated a “market perform” rating and issued a $10.00 price target (down from $14.00) on shares of Alta Equipment Group in a research report on Friday, August 9th. DA Davidson cut their price objective on Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Foundry Partners LLC lifted its position in Alta Equipment Group by 24.3% in the first quarter. Foundry Partners LLC now owns 293,915 shares of the company’s stock worth $3,806,000 after purchasing an additional 57,515 shares during the period. Russell Investments Group Ltd. lifted its position in Alta Equipment Group by 38.3% in the first quarter. Russell Investments Group Ltd. now owns 191,063 shares of the company’s stock worth $2,474,000 after purchasing an additional 52,896 shares during the period. American Century Companies Inc. lifted its position in Alta Equipment Group by 460.1% in the second 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. JCP Investment Management LLC bought a new position in shares of Alta Equipment Group during the second quarter valued at $721,000. Finally, Nantahala Capital Management LLC lifted its holdings in shares of Alta Equipment Group by 108.2% during the second quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after acquiring an additional 435,713 shares during the period. 73.58% of the stock is owned by institutional investors.

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.