272 Capital LP Sells 356,489 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

272 Capital LP reduced its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 85.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,000 shares of the company’s stock after selling 356,489 shares during the quarter. 272 Capital LP owned 0.18% of Alta Equipment Group worth $386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Alta Equipment Group in the fourth quarter worth approximately $69,000. Intech Investment Management LLC bought a new position in Alta Equipment Group in the fourth quarter worth approximately $79,000. Wells Fargo & Company MN boosted its stake in shares of Alta Equipment Group by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,533 shares of the company’s stock worth $82,000 after acquiring an additional 4,272 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Alta Equipment Group by 20.8% during the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after acquiring an additional 2,375 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Alta Equipment Group by 49.4% in the 4th quarter. MetLife Investment Management LLC now owns 20,313 shares of the company’s stock worth $133,000 after purchasing an additional 6,716 shares in the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Insider Buying and Selling

In related news, COO Craig Brubaker sold 5,294 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total transaction of $26,470.00. Following the completion of the transaction, the chief operating officer now directly owns 98,640 shares of the company’s stock, valued at approximately $493,200. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 19.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALTG. B. Riley began coverage on Alta Equipment Group in a research report on Thursday, March 27th. They set a “buy” rating and a $10.00 target price on the stock. Raymond James decreased their price objective on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.63.

Alta Equipment Group Trading Up 5.3 %

Shares of Alta Equipment Group stock opened at $4.48 on Friday. Alta Equipment Group Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $12.09. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. The company has a market capitalization of $147.05 million, a P/E ratio of -2.63 and a beta of 1.55. The company has a fifty day moving average of $4.69 and a 200 day moving average of $6.27.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were paid a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend was Friday, February 14th. Alta Equipment Group’s dividend payout ratio (DPR) is -11.22%.

Alta Equipment Group 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.