Mesirow Financial Investment Management Inc. Decreases Position in Alta Equipment Group Inc. (NYSE:ALTG)

Mesirow Financial Investment Management Inc. decreased its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 24.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,144 shares of the company’s stock after selling 6,217 shares during the quarter. Mesirow Financial Investment Management Inc. owned about 0.06% of Alta Equipment Group worth $248,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in shares of Alta Equipment Group by 1,997.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,063 shares of the company’s stock worth $38,000 after acquiring an additional 2,917 shares during the last quarter. AJOVista LLC purchased a new stake in Alta Equipment Group during the 4th quarter worth approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Alta Equipment Group by 77.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,577 shares of the company’s stock worth $106,000 after purchasing an additional 3,740 shares during the last quarter. Corton Capital Inc. acquired a new position in Alta Equipment Group during the 3rd quarter valued at approximately $126,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Alta Equipment Group in the third quarter worth $127,000. 73.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $22.00 target price (down from $25.00) on shares of Alta Equipment Group in a research report on Friday, March 15th. DA Davidson cut their price objective on Alta Equipment Group from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st.

Insiders Place Their Bets

In other news, insider Jeffrey Alan Hoover acquired 4,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was acquired at an average price of $8.17 per share, for a total transaction of $32,680.00. Following the completion of the transaction, the insider now owns 11,601 shares in the company, valued at approximately $94,780.17. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 19.90% of the company’s stock.

Alta Equipment Group Stock Performance

Shares of ALTG stock traded up $0.17 during trading hours on Wednesday, hitting $8.11. The company’s stock had a trading volume of 96,861 shares, compared to its average volume of 353,300. Alta Equipment Group Inc. has a 12-month low of $7.62 and a 12-month high of $17.98. The company has a 50 day moving average of $9.22 and a 200 day moving average of $10.88. The company has a quick ratio of 0.43, a current ratio of 1.30 and a debt-to-equity ratio of 4.93.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.17). The company had revenue of $441.60 million for the quarter, compared to analyst estimates of $416.35 million. Alta Equipment Group had a negative return on equity of 0.35% and a negative net margin of 0.21%. Equities analysts expect that Alta Equipment Group Inc. will post -0.37 earnings per share for the current year.

Alta Equipment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were given a $0.057 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.23 annualized dividend and a yield of 2.81%. Alta Equipment Group’s dividend payout ratio is presently -109.52%.

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.