Mesirow Financial Investment Management Inc. Sells 6,217 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Mesirow Financial Investment Management Inc. lowered its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 24.5% in the first quarter, Holdings Channel reports. The firm owned 19,144 shares of the company’s stock after selling 6,217 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Alta Equipment Group were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its holdings in shares of Alta Equipment Group by 1,997.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,063 shares of the company’s stock worth $38,000 after buying an additional 2,917 shares during the period. AJOVista LLC acquired a new position in shares of Alta Equipment Group during the fourth quarter worth approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Alta Equipment Group by 77.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,577 shares of the company’s stock valued at $106,000 after purchasing an additional 3,740 shares during the period. Corton Capital Inc. bought a new stake in shares of Alta Equipment Group in the 3rd quarter worth approximately $126,000. Finally, Quadrature Capital Ltd acquired a new stake in Alta Equipment Group during the third quarter worth $127,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

Analyst Upgrades and Downgrades

ALTG has been the topic of a number of analyst reports. B. Riley reissued a “buy” rating and issued a $22.00 target price (down previously from $25.00) on shares of Alta Equipment Group in a research note on Friday, March 15th. DA Davidson dropped their target price on Alta Equipment Group from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, May 21st.

Insiders Place Their Bets

In related news, insider Jeffrey Alan Hoover purchased 4,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average cost of $8.17 per share, with a total value of $32,680.00. Following the completion of the purchase, the insider now directly owns 11,601 shares of the company’s stock, valued at $94,780.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 19.90% of the company’s stock.

Alta Equipment Group Stock Up 2.1 %

Shares of ALTG traded up $0.17 during trading hours on Wednesday, hitting $8.11. The stock had a trading volume of 96,861 shares, compared to its average volume of 353,300. Alta Equipment Group Inc. has a 52 week low of $7.62 and a 52 week high of $17.98. The company’s fifty day moving average is $9.22 and its two-hundred day moving average is $10.88. The company has a quick ratio of 0.43, a current ratio of 1.30 and a debt-to-equity ratio of 4.93.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.17). Alta Equipment Group had a negative return on equity of 0.35% and a negative net margin of 0.21%. The firm had revenue of $441.60 million for the quarter, compared to the consensus estimate of $416.35 million. On average, equities analysts anticipate that Alta Equipment Group Inc. will post -0.37 EPS for the current fiscal year.

Alta Equipment Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were given a $0.057 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.23 annualized dividend and a yield of 2.81%. Alta Equipment Group’s payout ratio is -109.52%.

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.