Russell Investments Group Ltd. Sells 17,165 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Russell Investments Group Ltd. decreased its position in shares of Alta Equipment Group Inc. (NYSE:ALTG – Get Rating) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,315 shares of the company’s stock after selling 17,165 shares during the period. Russell Investments Group Ltd. owned 0.43% of Alta Equipment Group worth $1,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its holdings in Alta Equipment Group by 280.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 7,109 shares of the company’s stock valued at $88,000 after buying an additional 5,238 shares in the last quarter. American Century Companies Inc. purchased a new stake in Alta Equipment Group during the 1st quarter valued at approximately $147,000. MetLife Investment Management LLC grew its holdings in Alta Equipment Group by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 10,902 shares of the company’s stock valued at $135,000 after buying an additional 3,862 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Alta Equipment Group by 50.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 180,799 shares of the company’s stock valued at $2,235,000 after buying an additional 60,253 shares in the last quarter. Finally, Ancora Advisors LLC grew its holdings in Alta Equipment Group by 54.7% during the 1st quarter. Ancora Advisors LLC now owns 101,581 shares of the company’s stock valued at $1,321,000 after buying an additional 35,905 shares in the last quarter. Institutional investors own 63.54% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder B. Riley Financial, Inc. purchased 36,000 shares of the stock in a transaction that occurred on Thursday, April 13th. The stock was bought at an average cost of $13.81 per share, for a total transaction of $497,160.00. Following the completion of the transaction, the insider now directly owns 1,112,134 shares in the company, valued at $15,358,570.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 64,500 shares of company stock worth $895,980 over the last three months. 19.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TheStreet raised shares of Alta Equipment Group from a “d+” rating to a “c” rating in a report on Friday, March 24th. B. Riley raised their target price on shares of Alta Equipment Group from $19.00 to $25.00 in a report on Friday, March 10th. Finally, Raymond James raised their target price on shares of Alta Equipment Group from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, March 10th.

Alta Equipment Group Trading Down 1.9 %

ALTG stock opened at $14.85 on Tuesday. The firm has a fifty day moving average price of $14.56 and a 200 day moving average price of $14.81. Alta Equipment Group Inc. has a fifty-two week low of $8.65 and a fifty-two week high of $20.60. The company has a debt-to-equity ratio of 4.24, a quick ratio of 0.50 and a current ratio of 1.39. The firm has a market cap of $478.02 million, a PE ratio of 55.00 and a beta of 1.52.

Alta Equipment Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Monday, May 15th will be given a $0.057 dividend. The ex-dividend date is Friday, May 12th. This represents a $0.23 dividend on an annualized basis and a yield of 1.54%. Alta Equipment Group’s dividend payout ratio is presently 85.19%.

Alta Equipment Group Company Profile

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Alta Equipment Group, Inc engages in the operation of equipment dealership platforms. It operates through the following segments: Material Handling, Construction Equipment, and Corporate. The Material Handling segment includes the sale, service, and rental of lift trucks and other material handling equipment in Michigan, Illinois, Indiana, and New York.