Register Financial Advisors LLC Reduces Stock Position in Alta Equipment Group Inc. (NYSE:ALTG)

Register Financial Advisors LLC cut its stake in Alta Equipment Group Inc. (NYSE:ALTG) by 33.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 223,195 shares of the company’s stock after selling 111,573 shares during the quarter. Register Financial Advisors LLC’s holdings in Alta Equipment Group were worth $1,460,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Mill Road Capital Management LLC lifted its holdings in Alta Equipment Group by 18.2% in the third quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock valued at $28,397,000 after acquiring an additional 650,214 shares during the last quarter. Nantahala Capital Management LLC lifted its holdings in 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 acquiring an additional 435,713 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Alta Equipment Group by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 567,974 shares of the company’s stock worth $4,567,000 after purchasing an additional 18,343 shares in the last quarter. State Street Corp lifted its stake in Alta Equipment Group by 2.5% during the third quarter. State Street Corp now owns 485,892 shares of the company’s stock worth $3,275,000 after purchasing an additional 11,946 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in Alta Equipment Group during the third quarter worth $2,646,000. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on ALTG. Raymond James decreased their price target on 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. Northland Capmk cut Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Northland Securities restated a “market perform” rating and set a $20.00 price target (down from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.75.

Alta Equipment Group Stock Down 1.6 %

Shares of NYSE ALTG opened at $7.22 on Monday. The stock has a market cap of $239.97 million, a P/E ratio of -4.24 and a beta of 1.75. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45. Alta Equipment Group Inc. has a 12-month low of $5.40 and a 12-month high of $13.67. The business’s fifty day simple moving average is $7.20 and its 200-day simple moving average is $7.24.

Alta Equipment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.057 dividend. This represents a $0.23 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Friday, November 15th. Alta Equipment Group’s payout ratio is currently -13.53%.

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.