ABS Direct Equity Fund LLC Has $523,000 Stock Holdings in Alta Equipment Group Inc. $ALTG

ABS Direct Equity Fund LLC trimmed its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 47.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,425 shares of the company’s stock after selling 87,575 shares during the quarter. ABS Direct Equity Fund LLC owned 0.30% of Alta Equipment Group worth $523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Alta Equipment Group by 2.4% in the third quarter. Vanguard Group Inc. now owns 1,321,283 shares of the company’s stock worth $9,566,000 after acquiring an additional 30,552 shares in the last quarter. CastleKnight Management LP increased its stake in Alta Equipment Group by 11.4% during the 4th quarter. CastleKnight Management LP now owns 870,128 shares of the company’s stock worth $4,003,000 after purchasing an additional 89,068 shares in the last quarter. Royce & Associates LP raised its holdings in Alta Equipment Group by 0.7% during the 4th quarter. Royce & Associates LP now owns 550,783 shares of the company’s stock worth $2,534,000 after buying an additional 3,991 shares during the period. State Street Corp raised its holdings in Alta Equipment Group by 0.3% during the 4th quarter. State Street Corp now owns 527,644 shares of the company’s stock worth $2,427,000 after buying an additional 1,826 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in Alta Equipment Group in the third quarter valued at approximately $3,435,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALTG. DA Davidson restated a “neutral” rating and set a $8.00 price objective on shares of Alta Equipment Group in a report on Wednesday, June 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alta Equipment Group in a research note on Friday, May 29th. Finally, Wall Street Zen cut Alta Equipment Group from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.75.

Alta Equipment Group Stock Up 0.1%

Shares of ALTG stock opened at $6.45 on Monday. Alta Equipment Group Inc. has a 12 month low of $4.16 and a 12 month high of $8.88. The company’s fifty day simple moving average is $6.51 and its 200-day simple moving average is $6.50. The firm has a market cap of $209.85 million, a PE ratio of -2.55 and a beta of 1.73.

Alta Equipment Group (NYSE:ALTG) last released its earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). The business had revenue of $410.50 million during the quarter, compared to the consensus estimate of $424.18 million. Alta Equipment Group had a negative net margin of 4.33% and a negative return on equity of 3,253.61%. On average, equities analysts predict that Alta Equipment Group Inc. will post -1.2 earnings per share for the current fiscal year.

Alta Equipment Group Company Profile

Alta Equipment Group, Inc (NYSE: ALTG) is a North American distributor of material handling and logistics equipment. The company offers a broad lineup of forklifts, lift trucks, aerial work platforms, tow motors, pallet jacks and related attachments, serving manufacturing, warehousing, distribution and industrial facilities. Through its network of branch locations, Alta Equipment provides customers with new and used sales, short- and long-term rentals, and integrated fleet management solutions designed to support operational efficiency.

In addition to equipment sales, Alta Equipment supports customers with comprehensive after-sales services.