Alliancebernstein L.P. Sells 3,340 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Alliancebernstein L.P. lowered its position in Alta Equipment Group Inc. (NYSE:ALTG) by 10.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,970 shares of the company’s stock after selling 3,340 shares during the period. Alliancebernstein L.P. owned about 0.09% of Alta Equipment Group worth $196,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of Alta Equipment Group during the 4th quarter valued at about $79,000. SG Americas Securities LLC lifted its stake in shares of Alta Equipment Group by 20.8% in the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock worth $90,000 after purchasing an additional 2,375 shares during the period. Meixler Investment Management Ltd. boosted its holdings in shares of Alta Equipment Group by 25.4% in the fourth quarter. Meixler Investment Management Ltd. now owns 33,192 shares of the company’s stock worth $217,000 after buying an additional 6,717 shares during the last quarter. Rhumbline Advisers grew its position in Alta Equipment Group by 5.7% during the fourth quarter. Rhumbline Advisers now owns 33,968 shares of the company’s stock valued at $222,000 after buying an additional 1,827 shares during the period. Finally, Barclays PLC grew its position in Alta Equipment Group by 302.8% during the third quarter. Barclays PLC now owns 38,327 shares of the company’s stock valued at $258,000 after buying an additional 28,812 shares during the period. Institutional investors own 73.58% of the company’s stock.

Insider Buying and Selling

In related news, COO Craig Brubaker sold 5,294 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the transaction, the chief operating officer now directly owns 98,640 shares of the company’s stock, valued at approximately $493,200. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.90% of the stock is currently owned by insiders.

Alta Equipment Group Price Performance

NYSE ALTG opened at $4.11 on Tuesday. The stock has a market cap of $135.05 million, a price-to-earnings ratio of -2.42 and a beta of 1.55. Alta Equipment Group Inc. has a 12 month low of $3.54 and a 12 month high of $12.09. The company’s 50 day moving average is $5.11 and its two-hundred day moving average is $6.36. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45.

Alta Equipment Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were paid a dividend of $0.057 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date was Friday, February 14th. Alta Equipment Group’s dividend payout ratio (DPR) is -11.22%.

Wall Street Analysts Forecast Growth

ALTG has been the topic of several recent research reports. Raymond James decreased their price target on shares of Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Monday, March 10th. B. Riley began coverage on Alta Equipment Group in a report on Thursday, March 27th. They issued a “buy” rating and a $10.00 target price on the stock. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.63.

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.