Jane Street Group LLC Sells 10,873 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Jane Street Group LLC trimmed its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,399 shares of the company’s stock after selling 10,873 shares during the quarter. Jane Street Group LLC owned approximately 0.40% of Alta Equipment Group worth $899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALTG. Harbor Capital Advisors Inc. raised its holdings in Alta Equipment Group by 17.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,543 shares of the company’s stock valued at $125,000 after buying an additional 2,777 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Alta Equipment Group by 37.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock valued at $95,000 after acquiring an additional 3,218 shares during the period. Rhumbline Advisers raised its stake in shares of Alta Equipment Group by 13.7% during the second quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock valued at $253,000 after acquiring an additional 3,803 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alta Equipment Group by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 78,454 shares of the company’s stock worth $529,000 after purchasing an additional 4,747 shares during the period. Finally, SkyView Investment Advisors LLC grew its stake in shares of Alta Equipment Group by 14.0% in the second quarter. SkyView Investment Advisors LLC now owns 45,225 shares of the company’s stock worth $364,000 after purchasing an additional 5,537 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors.

Alta Equipment Group Stock Performance

Shares of Alta Equipment Group stock opened at $6.54 on Wednesday. The business has a 50-day moving average price of $7.23 and a two-hundred day moving average price of $7.42. Alta Equipment Group Inc. has a 1-year low of $5.40 and a 1-year high of $13.67. 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 company has a market cap of $217.49 million, a P/E ratio of -3.85 and a beta of 1.71.

Alta Equipment Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.057 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.23 annualized dividend and a yield of 3.49%. Alta Equipment Group’s dividend payout ratio is currently -12.94%.

Analysts Set New Price Targets

ALTG has been the subject of several analyst reports. Northland Capmk lowered Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Raymond James lowered their price objective on Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. Finally, Northland Securities reiterated a “market perform” rating and issued a $20.00 target price (down from $30.00) on shares of Alta Equipment Group in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.75.

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.