2 weeks Ago By ABMN Staff
Alta Equipment Group Inc. ( NYSE:ALTG – Get Free Report ) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 2,480,000 shares, an increase of 19.
8% from the July 31st total of 2,070,000 shares. Currently, 12.3% of the company’s shares are short sold.
Based on an average daily trading volume, of 454,700 shares, the days-to-cover ratio is presently 5.5 days. Insider Transactions at Alta Equipment Group In other news, Director Andrew P.
Studdert purchased 10,000 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $5.65 per share, for a total transaction of $56,500.
00. Following the completion of the acquisition, the director now directly owns 86,591 shares in the company, valued at approximately $489,239.15.
The purchase was disclosed in a filing with the SEC, which is available through the SEC website . In other news, Director Andrew P. Studdert purchased 10,000 shares of the stock in a transaction dated Monday, August 12th.
The stock was acquired at an average cost of $5.65 per share, for a total transaction of $56,500.00.
Following the completion of the acquisition, the director now directly owns 86,591 shares in the company, valued at approximately $489,239.15. The purchase was disclosed in a filing with the SEC, which is available through the SEC website .
Also, major shareholder Mill Road Capital Iii, L.P. purchased 54,200 shares of the stock in a transaction dated Friday, August 2nd.
The shares were purchased at an average price of $9.14 per share, with a total value of $495,388.00.
Following the completion of the acquisition, the insider now owns 4,063,708 shares of the company’s stock, valued at $37,142,291.12. The disclosure for this purchase can be found here .
Insiders bought a total of 323,100 shares of company stock worth $2,810,131 over the last ninety days. 19.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows Several institutional investors and hedge funds have recently made changes to their positions in the company. Mill Road Capital Management LLC raised its holdings in Alta Equipment Group by 23.5% in the fourth quarter.
Mill Road Capital Management LLC now owns 2,361,002 shares of the company’s stock valued at $29,206,000 after acquiring an additional 450,023 shares in the last quarter. Nantahala Capital Management LLC raised its holdings 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 acquiring an additional 435,713 shares in the last quarter. ABS Direct Equity Fund LLC acquired a new stake in Alta Equipment Group in the fourth quarter valued at $2,721,000. CIBC Private Wealth Group LLC raised its holdings in Alta Equipment Group by 152.
0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 347,746 shares of the company’s stock valued at $4,302,000 after acquiring an additional 209,759 shares in the last quarter. Finally, American Century Companies Inc.
raised its holdings in Alta Equipment Group by 460.1% in the second quarter. American Century Companies Inc.
now owns 211,585 shares of the company’s stock valued at $1,701,000 after acquiring an additional 173,810 shares in the last quarter. 73.58% of the stock is currently owned by hedge funds and other institutional investors.
Alta Equipment Group Price Performance Alta Equipment Group ( NYSE:ALTG – Get Free Report ) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.
04) by ($0.34). The business had revenue of $488.
10 million for the quarter, compared to analysts’ expectations of $497.57 million. Alta Equipment Group had a negative return on equity of 0.
35% and a negative net margin of 0.21%. During the same quarter in the prior year, the firm earned $0.
16 earnings per share. On average, analysts expect that Alta Equipment Group will post -0.23 earnings per share for the current year.
Alta Equipment Group Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a $0.057 dividend.
The ex-dividend date was Thursday, August 15th. This represents a $0.23 annualized dividend and a dividend yield of 3.
38%. Alta Equipment Group’s dividend payout ratio (DPR) is presently -104.76%.
Analysts Set New Price Targets Several equities research analysts recently issued reports on ALTG shares. DA Davidson decreased their target price on shares of Alta Equipment Group from $20.00 to $12.
00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Raymond James reiterated a “market perform” rating and set a $10.00 price objective (down from $14.
00) on shares of Alta Equipment Group in a research note on Friday, August 9th. View Our Latest Stock 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 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. Featured Articles 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 .
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