Assenagon Asset Management S.A. Sells 47,898 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Assenagon Asset Management S.A. decreased its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 80.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,548 shares of the company’s stock after selling 47,898 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alta Equipment Group were worth $93,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ALTG. Mill Road Capital Management LLC boosted its holdings in Alta Equipment Group by 23.5% during the 4th quarter. Mill Road Capital Management LLC now owns 2,361,002 shares of the company’s stock worth $29,206,000 after acquiring an additional 450,023 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Alta Equipment Group by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,250,154 shares of the company’s stock worth $16,189,000 after purchasing an additional 8,962 shares during the last quarter. Granahan Investment Management LLC grew its position in Alta Equipment Group by 11.4% in the 4th quarter. Granahan Investment Management LLC now owns 1,030,942 shares of the company’s stock worth $12,753,000 after purchasing an additional 105,783 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Alta Equipment Group by 152.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 347,746 shares of the company’s stock valued at $4,302,000 after buying an additional 209,759 shares during the last quarter. Finally, Register Financial Advisors LLC increased its stake in Alta Equipment Group by 44.3% in the 2nd quarter. Register Financial Advisors LLC now owns 335,702 shares of the company’s stock valued at $2,699,000 after buying an additional 103,071 shares during the last quarter. Institutional investors own 73.58% of the company’s stock.

Insider Transactions at Alta Equipment Group

In other Alta Equipment Group news, major shareholder Mill Road Capital Iii, L.P. purchased 75,486 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average cost of $10.35 per share, for a total transaction of $781,280.10. Following the purchase, the insider now owns 3,969,494 shares of the company’s stock, valued at approximately $41,084,262.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Mill Road Capital Iii, L.P. purchased 75,486 shares of Alta Equipment Group stock in a transaction dated Wednesday, July 31st. The stock was bought at an average cost of $10.35 per share, for a total transaction of $781,280.10. Following the completion of the transaction, the insider now owns 3,969,494 shares in the company, valued at $41,084,262.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Alan Hoover acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average price of $8.17 per share, for a total transaction of $32,680.00. Following the completion of the purchase, the insider now owns 11,601 shares in the company, valued at approximately $94,780.17. The disclosure for this purchase can be found here. Insiders acquired 323,100 shares of company stock worth $2,810,131 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALTG shares. Raymond James reaffirmed a “market perform” rating and issued a $10.00 target price (down from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th. DA Davidson decreased their target price on Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th.

Alta Equipment Group Price Performance

Alta Equipment Group stock opened at $6.72 on Monday. The business’s 50 day simple moving average is $8.45 and its 200 day simple moving average is $10.05. Alta Equipment Group Inc. has a 12 month low of $5.40 and a 12 month high of $14.73. The company has a market cap of $222.75 million, a price-to-earnings ratio of -32.00 and a beta of 1.69. The company has a current ratio of 1.30, a quick ratio of 0.43 and a debt-to-equity ratio of 4.93.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). Alta Equipment Group had a negative net margin of 0.21% and a negative return on equity of 0.35%. The firm had revenue of $488.10 million for the quarter, compared to analysts’ expectations of $497.57 million. During the same period in the prior year, the company earned $0.16 EPS. Sell-side analysts forecast that Alta Equipment Group Inc. will post -0.23 EPS for the current year.

Alta Equipment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.057 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.23 dividend on an annualized basis and a yield of 3.39%. Alta Equipment Group’s dividend payout ratio is presently -104.76%.

About Alta Equipment Group

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.