Tudor Investment Corp ET AL Purchases New Shares in Alta Equipment Group Inc. $ALTG

Tudor Investment Corp ET AL acquired a new position in shares of Alta Equipment Group Inc. (NYSE:ALTG) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 90,117 shares of the company’s stock, valued at approximately $652,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in Alta Equipment Group by 4.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 52,502 shares of the company’s stock worth $380,000 after purchasing an additional 2,242 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Alta Equipment Group by 10.7% during the 3rd quarter. Alliancebernstein L.P. now owns 38,270 shares of the company’s stock worth $277,000 after purchasing an additional 3,700 shares during the last quarter. Brooklyn Investment Group raised its holdings in Alta Equipment Group by 21.3% during the 3rd quarter. Brooklyn Investment Group now owns 24,417 shares of the company’s stock worth $177,000 after purchasing an additional 4,288 shares during the last quarter. Rhumbline Advisers raised its holdings in Alta Equipment Group by 15.9% during the 1st quarter. Rhumbline Advisers now owns 39,374 shares of the company’s stock worth $185,000 after purchasing an additional 5,406 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Alta Equipment Group during the 2nd quarter worth about $35,000. 73.58% of the stock is owned by institutional investors.

Alta Equipment Group Price Performance

Alta Equipment Group stock opened at $6.41 on Thursday. The firm has a market capitalization of $206.88 million, a P/E ratio of -2.50 and a beta of 1.57. Alta Equipment Group Inc. has a 1 year low of $3.95 and a 1 year high of $8.99. The business has a 50-day moving average of $6.28 and a 200-day moving average of $5.90. The company has a current ratio of 1.43, a quick ratio of 0.48 and a debt-to-equity ratio of 257.10.

Alta Equipment Group (NYSE:ALTG) last posted its earnings results on Thursday, February 26th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.10). The company had revenue of $509.10 million for the quarter, compared to analyst estimates of $489.56 million. Alta Equipment Group had a negative return on equity of 341.70% and a negative net margin of 4.37%. On average, equities analysts anticipate that Alta Equipment Group Inc. will post -1.92 EPS for the current year.

Insider Transactions at Alta Equipment Group

In related news, major shareholder Mill Road Capital Iii, L.P. bought 58,162 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $6.10 per share, for a total transaction of $354,788.20. Following the transaction, the insider owned 4,369,410 shares of the company’s stock, valued at $26,653,401. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Colucci sold 8,137 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $7.05, for a total value of $57,365.85. Following the transaction, the chief financial officer owned 240,750 shares of the company’s stock, valued at $1,697,287.50. The trade was a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders purchased 84,000 shares of company stock worth $519,371. 19.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen raised Alta Equipment Group from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. DA Davidson set a $7.00 price objective on Alta Equipment Group in a report on Friday, March 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alta Equipment Group in a report on Monday, December 29th. Raymond James Financial raised Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $9.50 price objective for the company in a report on Monday, March 9th. Finally, Zacks Research raised Alta Equipment Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.17.

Alta Equipment Group Profile

Alta Equipment Group, Inc (NYSE: ALTG) is a North American distributor of material handling and logistics equipment. The company offers a broad lineup of forklifts, lift trucks, aerial work platforms, tow motors, pallet jacks and related attachments, serving manufacturing, warehousing, distribution and industrial facilities. Through its network of branch locations, Alta Equipment provides customers with new and used sales, short- and long-term rentals, and integrated fleet management solutions designed to support operational efficiency.

In addition to equipment sales, Alta Equipment supports customers with comprehensive after-sales services.