Quantum Private Wealth LLC Trims Stock Holdings in Alta Equipment Group Inc. (NYSE:ALTG)

Quantum Private Wealth LLC trimmed its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 25.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,380 shares of the company’s stock after selling 27,800 shares during the period. Quantum Private Wealth LLC’s holdings in Alta Equipment Group were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ALTG. Nantahala Capital Management LLC grew its stake in Alta Equipment Group by 108.2% in the 2nd quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after buying an additional 435,713 shares in the last quarter. American Century Companies Inc. grew its stake in Alta Equipment Group by 460.1% in the 2nd quarter. American Century Companies Inc. now owns 211,585 shares of the company’s stock valued at $1,701,000 after buying an additional 173,810 shares in the last quarter. Register Financial Advisors LLC grew its stake in Alta Equipment Group by 44.3% in the 2nd quarter. Register Financial Advisors LLC now owns 335,702 shares of the company’s stock valued at $2,699,000 after buying an additional 103,071 shares in the last quarter. Ancora Advisors LLC grew its stake in Alta Equipment Group by 64.1% in the 1st quarter. Ancora Advisors LLC now owns 262,919 shares of the company’s stock valued at $3,405,000 after buying an additional 102,660 shares in the last quarter. Finally, JCP Investment Management LLC purchased a new position in Alta Equipment Group in the 2nd quarter valued at approximately $721,000. 73.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Andrew P. Studdert acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $5.65 per share, for a total transaction of $56,500.00. Following the completion of the transaction, the director now owns 86,591 shares of the company’s stock, valued at $489,239.15. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Andrew P. Studdert acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $5.65 per share, for a total transaction of $56,500.00. Following the completion of the transaction, the director now owns 86,591 shares of the company’s stock, valued at $489,239.15. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Voss Capital, Lp sold 11,311 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total transaction of $71,372.41. Following the completion of the transaction, the insider now owns 963,689 shares in the company, valued at $6,080,877.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 19.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ALTG has been the subject of several analyst reports. Raymond James reissued a “market perform” rating and issued a $10.00 price target (down from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th. DA Davidson cut their price target on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, August 13th.

Alta Equipment Group Stock Performance

NYSE ALTG opened at $7.96 on Friday. Alta Equipment Group Inc. has a 52-week low of $5.40 and a 52-week high of $13.67. The company has a debt-to-equity ratio of 5.81, a quick ratio of 0.47 and a current ratio of 1.37. The company has a market capitalization of $263.40 million, a P/E ratio of -12.50 and a beta of 1.67. The company has a fifty day moving average of $6.40 and a 200-day moving average of $8.01.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. The company had revenue of $488.10 million for the quarter, compared to the consensus estimate of $497.57 million. During the same period in the prior year, the firm posted $0.16 earnings per share. As a group, equities research analysts predict that Alta Equipment Group Inc. will post -1.08 EPS for the current fiscal year.

Alta Equipment Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, November 15th. Alta Equipment Group’s payout ratio is presently -35.94%.

About Alta Equipment Group

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.