Alta Equipment Group Inc. (NYSE:ALTG – Get Rating) major shareholder B. Riley Financial, Inc. bought 36,000 shares of the firm's stock in a transaction that occurred on Thursday, April 13th. The stock was acquired at an average cost of $13.81 per share, with a total value of $497,160.00. Following the transaction, the insider now owns 1,112,134 shares of the company's stock, valued at approximately $15,358,570.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
B. Riley Financial, Inc. also recently made the following trade(s):
Get Alta Equipment Group alerts:- On Monday, April 17th, B. Riley Financial, Inc. acquired 13,500 shares of Alta Equipment Group stock. The stock was purchased at an average cost of $13.82 per share, with a total value of $186,570.00.
- On Tuesday, April 4th, B. Riley Financial, Inc. acquired 15,000 shares of Alta Equipment Group stock. The stock was purchased at an average cost of $14.15 per share, with a total value of $212,250.00.
Alta Equipment Group Stock Performance
Shares of ALTG stock opened at $14.21 on Tuesday. The company has a market capitalization of $457.42 million, a price-to-earnings ratio of 71.05 and a beta of 1.52. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.56 and a current ratio of 1.41. The company has a 50-day simple moving average of $16.56 and a 200 day simple moving average of $14.33. Alta Equipment Group Inc. has a 52 week low of $8.65 and a 52 week high of $20.60.
Alta Equipment Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Wednesday, February 15th were issued a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, February 14th. Alta Equipment Group's payout ratio is 115.01%.
Institutional Trading of Alta Equipment Group
Several hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Financial Inc. boosted its holdings in shares of Alta Equipment Group by 0.6% during the 3rd quarter. B. Riley Financial Inc. now owns 6,000,763 shares of the company's stock worth $66,069,000 after buying an additional 33,198 shares during the period. B. Riley Securities Inc. acquired a new stake in Alta Equipment Group in the 4th quarter worth about $79,150,000. Voss Capital LLC raised its stake in Alta Equipment Group by 25.6% in the 4th quarter. Voss Capital LLC now owns 1,349,295 shares of the company's stock worth $17,797,000 after purchasing an additional 275,253 shares in the last quarter. Mill Road Capital Management LLC raised its stake in Alta Equipment Group by 40.1% in the 4th quarter. Mill Road Capital Management LLC now owns 1,256,869 shares of the company's stock worth $16,578,000 after purchasing an additional 359,822 shares in the last quarter. Finally, Granahan Investment Management LLC raised its stake in Alta Equipment Group by 1.2% in the 4th quarter. Granahan Investment Management LLC now owns 1,008,131 shares of the company's stock worth $13,297,000 after purchasing an additional 12,251 shares in the last quarter. Institutional investors own 63.54% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. B. Riley lifted their price objective on shares of Alta Equipment Group from $19.00 to $25.00 in a research report on Friday, March 10th. Raymond James lifted their price objective on shares of Alta Equipment Group from $19.00 to $22.00 and gave the company an "outperform" rating in a research report on Friday, March 10th. Finally, TheStreet raised shares of Alta Equipment Group from a "d+" rating to a "c" rating in a research report on Friday, March 24th.
About Alta Equipment Group
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Alta Equipment Group, Inc engages in the operation of equipment dealership platforms. It operates through the following segments: Material Handling, Construction Equipment, and Corporate. The Material Handling segment includes the sale, service, and rental of lift trucks and other material handling equipment in Michigan, Illinois, Indiana, and New York.
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