Foundry Partners LLC Decreases Position in Alta Equipment Group Inc. (NYSE:ALTG)

Foundry Partners LLC reduced its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 40.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 205,695 shares of the company’s stock after selling 140,475 shares during the quarter. Foundry Partners LLC owned 0.62% of Alta Equipment Group worth $1,386,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in shares of Alta Equipment Group by 38.3% during the first quarter. Russell Investments Group Ltd. now owns 191,063 shares of the company’s stock worth $2,474,000 after purchasing an additional 52,896 shares in the last quarter. American Century Companies Inc. increased its stake in Alta Equipment Group by 460.1% during the 2nd quarter. American Century Companies Inc. now owns 211,585 shares of the company’s stock worth $1,701,000 after buying an additional 173,810 shares during the period. JCP Investment Management LLC acquired a new position in Alta Equipment Group in the 2nd quarter worth $721,000. Nantahala Capital Management LLC boosted its position in Alta Equipment Group by 108.2% in the 2nd quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after buying an additional 435,713 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Alta Equipment Group by 237.0% during the first quarter. Janus Henderson Group PLC now owns 50,957 shares of the company’s stock valued at $660,000 after acquiring an additional 35,838 shares in the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alta Equipment Group

In related news, major shareholder Voss Capital, Lp sold 11,311 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total value of $71,372.41. Following the sale, the insider now owns 963,689 shares of the company’s stock, valued at approximately $6,080,877.59. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Northland Securities reissued a “market perform” rating and issued a $20.00 price target (down previously from $30.00) on shares of Alta Equipment Group in a report on Wednesday, November 13th. DA Davidson decreased their price target on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Northland Capmk cut shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Raymond James decreased their price objective on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Alta Equipment Group currently has an average rating of “Hold” and a consensus price target of $15.75.

Alta Equipment Group Price Performance

Shares of NYSE ALTG opened at $7.91 on Friday. The business has a 50 day simple moving average of $6.68 and a 200-day simple moving average of $7.71. Alta Equipment Group Inc. has a twelve month low of $5.40 and a twelve month high of $13.67. The company has a market capitalization of $263.05 million, a price-to-earnings ratio of -4.65 and a beta of 1.67. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.057 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.88%. Alta Equipment Group’s dividend payout ratio (DPR) is -12.94%.

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.