Paloma Partners Management Co Invests $2.65 Million in Alta Equipment Group Inc. (NYSE:ALTG)

Paloma Partners Management Co bought a new position in shares of Alta Equipment Group Inc. (NYSE:ALTG) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 392,633 shares of the company’s stock, valued at approximately $2,646,000. Paloma Partners Management Co owned about 1.19% of Alta Equipment Group at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Nantahala Capital Management LLC increased its holdings in shares of Alta Equipment Group by 108.2% in the second quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after purchasing an additional 435,713 shares during 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 during 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 during the last quarter. JCP Investment Management LLC bought a new position in Alta Equipment Group in the 2nd quarter valued at about $721,000. Finally, GSA Capital Partners LLP lifted its position in Alta Equipment Group by 79.2% during the third quarter. GSA Capital Partners LLP now owns 176,227 shares of the company’s stock worth $1,188,000 after acquiring an additional 77,887 shares during the last quarter. Institutional investors own 73.58% of the company’s stock.

Insider Transactions at Alta Equipment Group

In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the company’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 transaction of $71,372.41. Following the completion of the sale, the insider now owns 963,689 shares of the company’s stock, valued at approximately $6,080,877.59. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 19.90% of the stock is currently owned by insiders.

Alta Equipment Group Trading Up 2.2 %

Shares of ALTG stock opened at $7.91 on Monday. The stock has a 50 day simple moving average of $6.80 and a 200 day simple moving average of $7.62. Alta Equipment Group Inc. has a 1 year low of $5.40 and a 1 year high of $13.67. 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 stock has a market cap of $263.05 million, a P/E ratio of -4.65 and a beta of 1.67.

Alta Equipment Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Friday, November 15th. Alta Equipment Group’s dividend payout ratio (DPR) is currently -12.94%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Northland Capmk downgraded Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Northland Securities reaffirmed a “market perform” rating and issued a $20.00 price objective (down from $30.00) on shares of Alta Equipment Group in a report on Wednesday, November 13th. DA Davidson dropped their target price on Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Raymond James decreased their price target on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.75.

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.