Contrarian Capital Management L.L.C. Trims Position in Alta Equipment Group Inc. (NYSE:ALTG)

Contrarian Capital Management L.L.C. decreased its position in Alta Equipment Group Inc. (NYSE:ALTG) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,000 shares of the company’s stock after selling 5,000 shares during the quarter. Alta Equipment Group makes up 0.2% of Contrarian Capital Management L.L.C.’s portfolio, making the stock its 28th biggest holding. Contrarian Capital Management L.L.C.’s holdings in Alta Equipment Group were worth $654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ALTG. Intech Investment Management LLC bought a new position in shares of Alta Equipment Group in the 4th quarter worth approximately $79,000. Wells Fargo & Company MN grew its position in Alta Equipment Group by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,533 shares of the company’s stock valued at $82,000 after buying an additional 4,272 shares during the period. SG Americas Securities LLC increased its holdings 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 valued at $90,000 after buying an additional 2,375 shares during the last quarter. Meixler Investment Management Ltd. raised its position in Alta Equipment Group by 25.4% in the fourth quarter. Meixler Investment Management Ltd. now owns 33,192 shares of the company’s stock worth $217,000 after acquiring an additional 6,717 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Alta Equipment Group by 5.7% during the 4th quarter. Rhumbline Advisers now owns 33,968 shares of the company’s stock worth $222,000 after acquiring an additional 1,827 shares during the last quarter. 73.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alta Equipment Group

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

Alta Equipment Group Stock Up 3.6 %

Shares of ALTG stock opened at $4.19 on Friday. The company has a market capitalization of $137.52 million, a price-to-earnings ratio of -2.46 and a beta of 1.55. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43. The company’s fifty day moving average price is $5.24 and its 200-day moving average price is $6.39. Alta Equipment Group Inc. has a one year low of $3.54 and a one year high of $12.09.

Alta Equipment Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were given a $0.057 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 5.45%. Alta Equipment Group’s payout ratio is -11.22%.

Analyst Ratings Changes

ALTG has been the subject of several analyst reports. Raymond James reduced their price objective on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Monday, March 10th. B. Riley assumed coverage on Alta Equipment Group in a research report on Thursday, March 27th. They issued a “buy” rating and a $10.00 price target for the company. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.63.

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.