Farther Finance Advisors LLC Grows Stock Holdings in Alta Equipment Group Inc. $ALTG

Farther Finance Advisors LLC boosted its position in Alta Equipment Group Inc. (NYSE:ALTG) by 1,279.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,806 shares of the company’s stock after acquiring an additional 5,385 shares during the period. Farther Finance Advisors LLC’s holdings in Alta Equipment Group were worth $37,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strs Ohio purchased a new stake in Alta Equipment Group in the 1st quarter worth approximately $138,000. Corton Capital Inc. acquired a new position in shares of Alta Equipment Group in the 1st quarter valued at $152,000. Rhumbline Advisers boosted its holdings in shares of Alta Equipment Group by 15.9% in the 1st quarter. Rhumbline Advisers now owns 39,374 shares of the company’s stock valued at $185,000 after purchasing an additional 5,406 shares during the last quarter. Equitec Proprietary Markets LLC acquired a new position in shares of Alta Equipment Group in the 1st quarter valued at $261,000. Finally, Invesco Ltd. boosted its holdings in shares of Alta Equipment Group by 7.4% in the 1st quarter. Invesco Ltd. now owns 84,363 shares of the company’s stock valued at $396,000 after purchasing an additional 5,781 shares during the last quarter. 73.58% of the stock is owned by hedge funds and other institutional investors.

Alta Equipment Group Price Performance

Shares of NYSE:ALTG opened at $6.67 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 1.39 and a debt-to-equity ratio of 16.69. Alta Equipment Group Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $8.99. The firm has a 50-day simple moving average of $7.65 and a 200 day simple moving average of $6.34. The company has a market cap of $213.77 million, a PE ratio of -3.24 and a beta of 1.58.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $481.20 million during the quarter, compared to analyst estimates of $478.63 million. On average, sell-side analysts anticipate that Alta Equipment Group Inc. will post -1.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ALTG shares. Northland Capmk upgraded shares of Alta Equipment Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alta Equipment Group in a report on Saturday, September 27th. Northland Securities upgraded shares of Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Tuesday, July 8th. Finally, DA Davidson restated a “neutral” rating and set a $8.00 target price on shares of Alta Equipment Group in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.