Aristeia Capital L.L.C. Buys Shares of 97,958 Alta Equipment Group Inc. (NYSE:ALTG)

Aristeia Capital L.L.C. purchased a new stake in Alta Equipment Group Inc. (NYSE:ALTG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 97,958 shares of the company’s stock, valued at approximately $641,000.

Several other institutional investors and hedge funds also recently modified their holdings of ALTG. LPL Financial LLC raised its position in shares of Alta Equipment Group by 1.5% during the 4th quarter. LPL Financial LLC now owns 118,942 shares of the company’s stock worth $778,000 after purchasing an additional 1,774 shares during the last quarter. Rhumbline Advisers increased its position in Alta Equipment Group by 5.7% during the fourth quarter. Rhumbline Advisers now owns 33,968 shares of the company’s stock worth $222,000 after buying an additional 1,827 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Alta Equipment Group by 20.8% in the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock worth $90,000 after acquiring an additional 2,375 shares during the last quarter. Barclays PLC lifted its position in shares of Alta Equipment Group by 10.8% in the fourth quarter. Barclays PLC now owns 42,479 shares of the company’s stock valued at $278,000 after acquiring an additional 4,152 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Alta Equipment Group by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,533 shares of the company’s stock valued at $82,000 after acquiring an additional 4,272 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Stock Performance

NYSE ALTG opened at $4.74 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45. The company has a market capitalization of $155.76 million, a PE ratio of -2.79 and a beta of 1.55. The business’s 50-day moving average price is $4.67 and its 200 day moving average price is $6.26. Alta Equipment Group Inc. has a twelve month low of $3.54 and a twelve month high of $12.09.

Alta Equipment Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 4.81%. Alta Equipment Group’s payout ratio is -11.22%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Alta Equipment Group

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of Alta Equipment Group stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total value of $26,470.00. Following the transaction, the chief operating officer now owns 98,640 shares in the company, valued at $493,200. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.90% of the stock is owned by insiders.

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.