Voss Capital, Lp Sells 11,311 Shares of Alta Equipment Group Inc. (NYSE:ALTG) Stock

Alta Equipment Group Inc. (NYSE:ALTG) major shareholder Voss Capital, Lp sold 11,311 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total value of $71,372.41. Following the completion of the sale, the insider now directly owns 963,689 shares of the company’s stock, valued at $6,080,877.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Alta Equipment Group Stock Up 1.5 %

Shares of ALTG stock traded up $0.10 during trading hours on Friday, reaching $6.60. The company had a trading volume of 283,873 shares, compared to its average volume of 353,652. The company has a market cap of $218.39 million, a price-to-earnings ratio of -10.47 and a beta of 1.67. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.37 and a quick ratio of 0.47. Alta Equipment Group Inc. has a 12 month low of $5.40 and a 12 month high of $13.67. The business has a fifty day simple moving average of $6.38 and a 200-day simple moving average of $8.17.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. GSA Capital Partners LLP lifted its holdings in Alta Equipment Group by 30.8% during the first quarter. GSA Capital Partners LLP now owns 52,566 shares of the company’s stock worth $681,000 after acquiring an additional 12,371 shares during the period. Essex Investment Management Co. LLC raised its stake in shares of Alta Equipment Group by 1.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 166,831 shares of the company’s stock worth $2,160,000 after purchasing an additional 2,517 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Alta Equipment Group by 67.7% in the 1st quarter. Quantbot Technologies LP now owns 15,736 shares of the company’s stock worth $204,000 after buying an additional 6,355 shares during the last quarter. Quantum Private Wealth LLC boosted its holdings in shares of Alta Equipment Group by 18.1% in the 1st quarter. Quantum Private Wealth LLC now owns 88,080 shares of the company’s stock worth $1,141,000 after buying an additional 13,500 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Alta Equipment Group by 38.3% during the first quarter. Russell Investments Group Ltd. now owns 191,063 shares of the company’s stock valued at $2,474,000 after buying an additional 52,896 shares during the period. 73.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James reiterated a “market perform” rating and issued a $10.00 target price (down from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th. DA Davidson dropped their price objective on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th.

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.