Insider Buying: Alta Equipment Group Inc. (NYSE:ALTG) Insider Purchases $32,680.00 in Stock

Alta Equipment Group Inc. (NYSE:ALTGGet Free Report) insider Jeffrey Alan Hoover acquired 4,000 shares of Alta Equipment Group stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $8.17 per share, for a total transaction of $32,680.00. Following the purchase, the insider now owns 11,601 shares of the company’s stock, valued at approximately $94,780.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alta Equipment Group Trading Up 1.7 %

ALTG stock opened at $8.95 on Thursday. The company has a market cap of $296.67 million, a P/E ratio of -42.62 and a beta of 1.66. Alta Equipment Group Inc. has a twelve month low of $7.64 and a twelve month high of $17.98. The company has a quick ratio of 0.43, a current ratio of 1.30 and a debt-to-equity ratio of 4.93. The business has a fifty day moving average of $10.38 and a 200-day moving average of $11.10.

Alta Equipment Group (NYSE:ALTGGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.17). The company had revenue of $441.60 million during the quarter, compared to the consensus estimate of $416.35 million. Alta Equipment Group had a negative net margin of 0.21% and a negative return on equity of 0.35%. As a group, equities research analysts expect that Alta Equipment Group Inc. will post -0.37 EPS for the current year.

Alta Equipment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a $0.057 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.23 dividend on an annualized basis and a yield of 2.55%. Alta Equipment Group’s dividend payout ratio is presently -104.76%.

Wall Street Analyst Weigh In

A number of research firms have commented on ALTG. DA Davidson reduced their price objective on Alta Equipment Group from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. B. Riley restated a “buy” rating and set a $22.00 target price (down previously from $25.00) on shares of Alta Equipment Group in a research report on Friday, March 15th.

View Our Latest Report on ALTG

Institutional Investors Weigh In On Alta Equipment Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALTG. Quadrant Capital Group LLC increased its holdings in Alta Equipment Group by 1,997.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,063 shares of the company’s stock valued at $38,000 after purchasing an additional 2,917 shares during the last quarter. AJOVista LLC bought a new stake in Alta Equipment Group in the fourth quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Alta Equipment Group by 77.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,577 shares of the company’s stock valued at $106,000 after purchasing an additional 3,740 shares during the last quarter. EntryPoint Capital LLC increased its holdings in Alta Equipment Group by 88.0% in the first quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock valued at $109,000 after purchasing an additional 3,940 shares during the last quarter. Finally, Corton Capital Inc. bought a new stake in Alta Equipment Group in the third quarter valued at about $126,000. Institutional investors own 73.58% of the company’s stock.

About Alta Equipment Group

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Alta Equipment Group (NYSE:ALTG)

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