ABS Direct Equity Fund LLC Has $1.41 Million Holdings in Alta Equipment Group Inc. (NYSE:ALTG)

ABS Direct Equity Fund LLC trimmed its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 4.9% in the third quarter, Holdings Channel reports. The institutional investor owned 209,200 shares of the company’s stock after selling 10,800 shares during the period. Alta Equipment Group makes up 1.6% of ABS Direct Equity Fund LLC’s holdings, making the stock its 23rd largest holding. ABS Direct Equity Fund LLC’s holdings in Alta Equipment Group were worth $1,410,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Mill Road Capital Management LLC raised its holdings in Alta Equipment Group by 18.2% in the 3rd quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock valued at $28,397,000 after acquiring an additional 650,214 shares in the last quarter. Nantahala Capital Management LLC raised its stake in Alta Equipment Group by 108.2% in the second quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after purchasing an additional 435,713 shares in the last quarter. Paloma Partners Management Co bought a new stake in Alta Equipment Group during the third quarter worth about $2,646,000. American Century Companies Inc. grew its stake in Alta Equipment Group by 460.1% during the second 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 in the last quarter. Finally, JCP Investment Management LLC bought a new position in Alta Equipment Group in the 2nd quarter valued at about $721,000. 73.58% of the stock is currently owned by institutional investors.

Alta Equipment Group Price Performance

Alta Equipment Group stock opened at $8.03 on Tuesday. The stock has a 50-day moving average price of $6.98 and a two-hundred day moving average price of $7.58. Alta Equipment Group Inc. has a 12 month low of $5.40 and a 12 month high of $13.67. The company has a market capitalization of $266.88 million, a PE ratio of -4.72 and a beta of 1.71. 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 disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.057 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.23 dividend on an annualized basis and a yield of 2.84%. Alta Equipment Group’s dividend payout ratio (DPR) is presently -12.94%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James reduced their price target on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Northland Securities reissued a “market perform” rating and set 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 dropped their price objective on 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. Finally, Northland Capmk cut Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Alta Equipment Group currently has a consensus rating of “Hold” and an average price target of $15.75.

Insider Buying and Selling

In other Alta Equipment Group news, major shareholder Voss Capital, Lp sold 11,311 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $6,080,877.59. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 19.90% of the stock is owned by corporate insiders.

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.