Goldman Sachs Group Inc. Sells 16,369 Shares of Alta Equipment Group Inc. $ALTG

Goldman Sachs Group Inc. decreased its position in Alta Equipment Group Inc. (NYSE:ALTG) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 145,471 shares of the company’s stock after selling 16,369 shares during the quarter. Goldman Sachs Group Inc. owned about 0.44% of Alta Equipment Group worth $682,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ALTG. Rhumbline Advisers boosted its position in Alta Equipment Group by 15.9% during the first quarter. Rhumbline Advisers now owns 39,374 shares of the company’s stock worth $185,000 after purchasing an additional 5,406 shares during the period. Strs Ohio bought a new stake in Alta Equipment Group during the first quarter worth approximately $138,000. Nantahala Capital Management LLC boosted its position in Alta Equipment Group by 23.4% during the first quarter. Nantahala Capital Management LLC now owns 1,042,769 shares of the company’s stock worth $4,891,000 after purchasing an additional 197,654 shares during the period. Equitec Proprietary Markets LLC bought a new stake in Alta Equipment Group during the first quarter worth approximately $261,000. Finally, Voss Capital LP boosted its position in Alta Equipment Group by 2.3% during the first quarter. Voss Capital LP now owns 2,980,816 shares of the company’s stock worth $13,980,000 after purchasing an additional 65,816 shares during the period. Institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Stock Down 2.5%

ALTG opened at $7.38 on Thursday. 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 stock has a market capitalization of $236.53 million, a price-to-earnings ratio of -3.58 and a beta of 1.61. The business has a 50 day moving average of $7.82 and a 200-day moving average of $6.22.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings data 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 return on equity of 95.61% and a negative net margin of 3.53%.The company had revenue of $481.20 million during the quarter, compared to analysts’ expectations of $478.63 million. As a group, sell-side analysts anticipate that Alta Equipment Group Inc. will post -1.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALTG. Northland Capmk raised Alta Equipment Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 8th. DA Davidson reaffirmed a “neutral” rating and set a $8.00 target price on shares of Alta Equipment Group in a research report on Monday, August 18th. Northland Securities raised 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 report on Tuesday, July 8th. Finally, Wall Street Zen raised Alta Equipment Group from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $11.25.

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.