B. Riley Financial, Inc. Sells 2,757,308 Shares of Alta Equipment Group Inc. (NYSE:ALTG) Stock

Alta Equipment Group Inc. (NYSE:ALTGGet Free Report) major shareholder B. Riley Financial, Inc. sold 2,757,308 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $11.00, for a total value of $30,330,388.00. Following the transaction, the insider now owns 211,175 shares of the company’s stock, valued at $2,322,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Alta Equipment Group Price Performance

Shares of NYSE:ALTG opened at $11.71 on Friday. Alta Equipment Group Inc. has a 12 month low of $8.76 and a 12 month high of $20.60. The stock has a market cap of $379.05 million, a price-to-earnings ratio of 55.76 and a beta of 1.64. The stock’s 50 day moving average price is $11.45 and its 200 day moving average price is $12.09. The company has a debt-to-equity ratio of 4.35, a current ratio of 1.38 and a quick ratio of 0.51.

Alta Equipment Group (NYSE:ALTGGet Free Report) last announced its earnings results on Wednesday, November 8th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.04 by $0.16. Alta Equipment Group had a return on equity of 9.60% and a net margin of 0.57%. The firm had revenue of $466.20 million for the quarter, compared to analysts’ expectations of $465.06 million. Equities research analysts anticipate that Alta Equipment Group Inc. will post 0.21 earnings per share for the current fiscal year.

Alta Equipment Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th will be issued a $0.057 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 1.95%. Alta Equipment Group’s dividend payout ratio is currently 109.53%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Strs Ohio increased its holdings in shares of Alta Equipment Group by 2.1% in the second quarter. Strs Ohio now owns 34,400 shares of the company’s stock valued at $596,000 after buying an additional 700 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in shares of Alta Equipment Group by 5.2% in the third quarter. SkyView Investment Advisors LLC now owns 21,608 shares of the company’s stock valued at $261,000 after buying an additional 1,067 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Alta Equipment Group by 17.2% in the third quarter. Deutsche Bank AG now owns 11,130 shares of the company’s stock valued at $134,000 after buying an additional 1,636 shares in the last quarter. Renaissance Technologies LLC raised its stake in Alta Equipment Group by 2.0% during the 2nd quarter. Renaissance Technologies LLC now owns 88,300 shares of the company’s stock valued at $792,000 after purchasing an additional 1,700 shares during the period. Finally, Rhumbline Advisers raised its stake in Alta Equipment Group by 7.0% during the 3rd quarter. Rhumbline Advisers now owns 27,447 shares of the company’s stock valued at $331,000 after purchasing an additional 1,787 shares during the period. Institutional investors own 70.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James dropped their target price on Alta Equipment Group from $22.00 to $19.50 and set an “outperform” rating on the stock in a report on Tuesday, November 14th.

View Our Latest Research Report on Alta Equipment Group

Alta Equipment Group Company Profile

(Get Free Report)

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates in two segments, Material Handling and Construction Equipment. 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 aerial work platforms, earthmoving equipment, environmental processing equipment, and other material handling and construction equipment.

Featured Stories

Insider Buying and Selling by Quarter for Alta Equipment Group (NYSE:ALTG)

Receive News & Ratings for Alta Equipment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alta Equipment Group and related companies with MarketBeat.com's FREE daily email newsletter.