AlphaQuest LLC Sells 38,863 Shares of Alta Equipment Group Inc. $ALTG

AlphaQuest LLC lowered its holdings in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 78.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,453 shares of the company’s stock after selling 38,863 shares during the period. AlphaQuest LLC’s holdings in Alta Equipment Group were worth $49,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Voss Capital LP raised its stake in shares of Alta Equipment Group by 2.3% during the first quarter. Voss Capital LP now owns 2,980,816 shares of the company’s stock valued at $13,980,000 after acquiring an additional 65,816 shares during the last quarter. Invesco Ltd. raised its stake in shares of Alta Equipment Group by 7.4% during the first quarter. Invesco Ltd. now owns 84,363 shares of the company’s stock valued at $396,000 after acquiring an additional 5,781 shares during the last quarter. Citizens Financial Group Inc. RI bought a new position in Alta Equipment Group during the first quarter worth $436,000. GSA Capital Partners LLP raised its stake in Alta Equipment Group by 98.4% during the first quarter. GSA Capital Partners LLP now owns 358,290 shares of the company’s stock worth $1,680,000 after buying an additional 177,685 shares during the last quarter. Finally, Corton Capital Inc. bought a new position in Alta Equipment Group during the first quarter worth $152,000. Institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Trading Down 0.1%

ALTG opened at $8.25 on Friday. Alta Equipment Group Inc. has a 1-year low of $3.54 and a 1-year high of $8.99. The company has a current ratio of 1.39, a quick ratio of 0.48 and a debt-to-equity ratio of 16.69. The company has a market cap of $264.25 million, a P/E ratio of -4.00 and a beta of 1.61. The company has a fifty day moving average price of $7.81 and a two-hundred day moving average price of $6.04.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.06. Alta Equipment Group had a negative net margin of 3.53% and a negative return on equity of 95.61%. The firm had revenue of $481.20 million during the quarter, compared to the consensus estimate of $478.63 million. Analysts predict that Alta Equipment Group Inc. will post -1.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALTG. DA Davidson reissued a “neutral” rating and set a $8.00 target price on shares of Alta Equipment Group in a research note on Monday, August 18th. Wall Street Zen raised shares of Alta Equipment Group from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Raymond James Financial lowered their target price on shares of Alta Equipment Group from $8.50 to $7.00 and set a “market perform” rating for the company in a research note on Friday, May 16th. Northland Securities raised shares of Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Tuesday, July 8th. Finally, Northland Capmk raised shares of Alta Equipment Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $11.25.

Alta Equipment Group Company 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.