Paloma Partners Management Co Sells 190,274 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Paloma Partners Management Co reduced its holdings in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 48.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 202,359 shares of the company’s stock after selling 190,274 shares during the period. Paloma Partners Management Co owned about 0.61% of Alta Equipment Group worth $1,323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALTG. State Street Corp boosted its holdings in Alta Equipment Group by 2.5% during the third quarter. State Street Corp now owns 485,892 shares of the company’s stock valued at $3,275,000 after purchasing an additional 11,946 shares in the last quarter. Barclays PLC lifted its position in shares of Alta Equipment Group by 302.8% during the 3rd quarter. Barclays PLC now owns 38,327 shares of the company’s stock worth $258,000 after buying an additional 28,812 shares during the period. SkyView Investment Advisors LLC boosted its stake in Alta Equipment Group by 5.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 47,576 shares of the company’s stock valued at $321,000 after buying an additional 2,351 shares in the last quarter. JPMorgan Chase & Co. grew its position in Alta Equipment Group by 167.8% in the third quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock valued at $347,000 after acquiring an additional 32,218 shares during the period. Finally, SG Americas Securities LLC raised its stake in Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock worth $90,000 after acquiring an additional 2,375 shares in the last quarter. Institutional investors own 73.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALTG. Raymond James lowered their target price on shares of Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Monday, March 10th. B. Riley started coverage on shares of Alta Equipment Group in a research report on Thursday, March 27th. They issued a “buy” rating and a $10.00 price target on the stock. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.63.

Alta Equipment Group Stock Performance

Shares of NYSE:ALTG opened at $4.57 on Tuesday. The business has a fifty day moving average of $4.81 and a 200-day moving average of $6.31. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. Alta Equipment Group Inc. has a twelve month low of $3.54 and a twelve month high of $12.09. The firm has a market cap of $150.17 million, a PE ratio of -2.69 and a beta of 1.55.

Alta Equipment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Saturday, February 15th were given a $0.057 dividend. This represents a $0.23 annualized dividend and a yield of 4.99%. The ex-dividend date was Friday, February 14th. Alta Equipment Group’s payout ratio is presently -11.22%.

Insiders Place Their Bets

In related news, COO Craig Brubaker sold 5,294 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total value of $26,470.00. Following the completion of the sale, the chief operating officer now owns 98,640 shares of the company’s stock, valued at $493,200. This trade represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 19.90% of the company’s stock.

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.