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

Paloma Partners Management Co reduced its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 48.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 202,359 shares of the company’s stock after selling 190,274 shares during the quarter. Paloma Partners Management Co’s holdings in Alta Equipment Group were worth $1,323,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ALTG. Price T Rowe Associates Inc. MD acquired a new stake in shares of Alta Equipment Group during the 4th quarter worth approximately $69,000. Intech Investment Management LLC acquired a new stake in Alta Equipment Group during the 4th quarter worth $79,000. Wells Fargo & Company MN raised its position in shares of Alta Equipment Group by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,533 shares of the company’s stock valued at $82,000 after acquiring an additional 4,272 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Alta Equipment Group by 20.8% in the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after purchasing an additional 2,375 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Alta Equipment Group by 49.4% in the 4th quarter. MetLife Investment Management LLC now owns 20,313 shares of the company’s stock worth $133,000 after purchasing an additional 6,716 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. B. Riley started coverage on Alta Equipment Group in a report on Thursday, March 27th. They issued a “buy” rating and a $10.00 price objective for the company. Raymond James lowered their price target 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. Three equities 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.63.

Insider Activity at Alta Equipment Group

In related news, COO Craig Brubaker sold 5,294 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 98,640 shares of the company’s stock, valued at approximately $493,200. This represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.90% of the stock is owned by insiders.

Alta Equipment Group Stock Performance

ALTG stock opened at $4.57 on Tuesday. Alta Equipment Group Inc. has a 1-year low of $3.54 and a 1-year high of $12.09. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45. The firm has a market cap of $150.17 million, a PE ratio of -2.69 and a beta of 1.55. The business’s 50-day moving average price is $4.81 and its two-hundred day moving average price is $6.31.

Alta Equipment Group Dividend Announcement

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

Alta Equipment Group Company 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.