GSA Capital Partners LLP Purchases 77,887 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

GSA Capital Partners LLP grew its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 79.2% in the third quarter, HoldingsChannel reports. The fund owned 176,227 shares of the company’s stock after acquiring an additional 77,887 shares during the period. GSA Capital Partners LLP’s holdings in Alta Equipment Group were worth $1,188,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP increased its holdings in Alta Equipment Group by 67.7% during the first 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. Russell Investments Group Ltd. raised its holdings in shares of Alta Equipment Group by 38.3% in the 1st quarter. Russell Investments Group Ltd. now owns 191,063 shares of the company’s stock valued at $2,474,000 after purchasing an additional 52,896 shares during the period. Vanguard Group Inc. lifted its stake in Alta Equipment Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,250,154 shares of the company’s stock valued at $16,189,000 after purchasing an additional 8,962 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Alta Equipment Group by 88.0% during the first quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock worth $109,000 after purchasing an additional 3,940 shares during the period. Finally, Janus Henderson Group PLC increased its position in Alta Equipment Group by 237.0% during the first quarter. Janus Henderson Group PLC now owns 50,957 shares of the company’s stock worth $660,000 after buying an additional 35,838 shares during the last quarter. 73.58% of the stock is owned by institutional investors.

Alta Equipment Group Trading Down 9.7 %

Shares of Alta Equipment Group stock opened at $7.20 on Friday. The company has a debt-to-equity ratio of 5.81, a quick ratio of 0.47 and a current ratio of 1.37. The firm has a 50-day moving average of $6.53 and a 200-day moving average of $7.88. Alta Equipment Group Inc. has a 52-week low of $5.40 and a 52-week high of $13.67. The stock has a market cap of $238.27 million, a PE ratio of -4.24 and a beta of 1.67.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, November 15th. Alta Equipment Group’s dividend payout ratio is currently -12.94%.

Insiders Place Their Bets

In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total transaction of $71,372.41. Following the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ALTG shares. Northland Capmk cut Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Raymond James reduced their price objective on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Thursday. 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 report on Tuesday, August 13th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $20.00 target price (down previously from $30.00) on shares of Alta Equipment Group in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.75.

Alta Equipment Group 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.