Alta Equipment Group Inc. (NYSE:ALTG) Director Daniel Shribman Acquires 15,000 Shares of Stock

Alta Equipment Group Inc. (NYSE:ALTGGet Rating) Director Daniel Shribman acquired 15,000 shares of the business’s stock in a transaction dated Friday, May 13th. The stock was acquired at an average price of $10.32 per share, for a total transaction of $154,800.00. Following the purchase, the director now directly owns 371,761 shares of the company’s stock, valued at $3,836,573.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ALTG opened at $10.62 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 1.07 and a debt-to-equity ratio of 2.41. The company has a market cap of $343.70 million, a price-to-earnings ratio of -17.41 and a beta of 1.71. Alta Equipment Group Inc. has a 52-week low of $9.73 and a 52-week high of $17.38. The firm’s fifty day simple moving average is $11.86 and its two-hundred day simple moving average is $13.44.

Alta Equipment Group (NYSE:ALTGGet Rating) last posted its quarterly earnings data on Thursday, March 31st. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $356.30 million for the quarter, compared to analysts’ expectations of $300.20 million. Alta Equipment Group had a negative net margin of 1.28% and a positive return on equity of 0.22%. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, research analysts forecast that Alta Equipment Group Inc. will post 0.55 EPS for the current year.

ALTG has been the topic of several analyst reports. Raymond James set a $19.00 price target on shares of Alta Equipment Group and gave the company an “outperform” rating in a research report on Thursday, May 12th. B. Riley dropped their price target on shares of Alta Equipment Group from $22.00 to $16.00 in a research report on Wednesday, May 11th. Finally, Zacks Investment Research raised shares of Alta Equipment Group from a “sell” rating to a “hold” rating in a report on Monday, March 28th.

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in shares of Alta Equipment Group in the fourth quarter worth about $27,000. Citigroup Inc. lifted its stake in shares of Alta Equipment Group by 135.4% in the third quarter. Citigroup Inc. now owns 2,121 shares of the company’s stock worth $29,000 after buying an additional 1,220 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Alta Equipment Group by 71.4% in the third quarter. Royal Bank of Canada now owns 2,387 shares of the company’s stock worth $33,000 after buying an additional 994 shares in the last quarter. Dorsey Wright & Associates purchased a new position in shares of Alta Equipment Group in the first quarter worth about $40,000. Finally, Center for Financial Planning Inc. lifted its stake in shares of Alta Equipment Group by 40.0% in the first quarter. Center for Financial Planning Inc. now owns 3,500 shares of the company’s stock worth $43,000 after buying an additional 1,000 shares in the last quarter. 66.17% of the stock is currently owned by hedge funds and other institutional investors.

About Alta Equipment Group (Get Rating)

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates in two segments, Material Handling and Construction Equipment. 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 aerial work platforms, earthmoving equipment, cranes, paving and asphalt equipment, and other material handling and construction equipment.

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