Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,740 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alta Equipment Group Inc. (NYSE:ALTG) by 77.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,577 shares of the company’s stock after buying an additional 3,740 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alta Equipment Group were worth $106,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Voss Capital LLC raised its stake in shares of Alta Equipment Group by 20.1% during the fourth quarter. Voss Capital LLC now owns 3,245,000 shares of the company’s stock valued at $40,141,000 after acquiring an additional 543,500 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Alta Equipment Group by 52.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 245,468 shares of the company’s stock worth $2,960,000 after buying an additional 84,678 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Alta Equipment Group in the 3rd quarter worth approximately $4,558,000. Millrace Asset Group Inc. raised its holdings in shares of Alta Equipment Group by 62.3% during the third quarter. Millrace Asset Group Inc. now owns 136,735 shares of the company’s stock valued at $1,649,000 after acquiring an additional 52,493 shares in the last quarter. Finally, Register Financial Advisors LLC lifted its stake in Alta Equipment Group by 33.7% in the fourth quarter. Register Financial Advisors LLC now owns 188,730 shares of the company’s stock worth $2,335,000 after acquiring an additional 47,568 shares during the period. 73.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Craig Brubaker sold 7,405 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.77, for a total transaction of $87,156.85. Following the sale, the chief operating officer now directly owns 95,077 shares of the company’s stock, valued at approximately $1,119,056.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alta Equipment Group news, COO Craig Brubaker sold 7,405 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.77, for a total transaction of $87,156.85. Following the sale, the chief operating officer now directly owns 95,077 shares in the company, valued at approximately $1,119,056.29. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Anthony Colucci sold 17,222 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.45, for a total value of $197,191.90. Following the completion of the transaction, the chief financial officer now owns 156,609 shares of the company’s stock, valued at approximately $1,793,173.05. The disclosure for this sale can be found here. Insiders sold 59,578 shares of company stock worth $681,392 over the last three months. 20.90% of the stock is currently owned by corporate insiders.

Alta Equipment Group Stock Down 15.4 %

Shares of Alta Equipment Group stock opened at $9.81 on Friday. Alta Equipment Group Inc. has a 1 year low of $8.76 and a 1 year high of $17.98. The firm has a market cap of $321.70 million, a price-to-earnings ratio of 54.47 and a beta of 1.67. The company has a 50-day moving average of $11.87 and a 200 day moving average of $11.32. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.32 and a quick ratio of 0.48.

Alta Equipment Group (NYSE:ALTG) last released its earnings results on Thursday, March 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). Alta Equipment Group had a net margin of 0.47% and a return on equity of 8.60%. The business had revenue of $521.50 million for the quarter, compared to analysts’ expectations of $478.68 million. As a group, sell-side analysts anticipate that Alta Equipment Group Inc. will post 0.12 earnings per share for the current fiscal year.

Alta Equipment Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a $0.057 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.33%. Alta Equipment Group’s dividend payout ratio is currently 127.78%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALTG. B. Riley restated a “buy” rating and issued a $22.00 price objective (down from $25.00) on shares of Alta Equipment Group in a report on Friday, March 15th. DA Davidson reissued a “buy” rating and issued a $22.00 price target on shares of Alta Equipment Group in a research note on Friday, March 15th.

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.