Alta Equipment Group Inc. (NYSE:ALTG) Director Purchases $64,300.00 in Stock

Alta Equipment Group Inc. (NYSE:ALTG) Director Zachary E. Savas purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, June 10th. The stock was bought at an average cost of $12.86 per share, with a total value of $64,300.00. Following the purchase, the director now owns 33,781 shares of the company’s stock, valued at approximately $434,423.66. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

NYSE:ALTG traded up $0.52 on Friday, hitting $13.68. The stock had a trading volume of 1,244 shares, compared to its average volume of 96,903. The company’s fifty day moving average price is $13.72. The company has a market cap of $410.66 million, a P/E ratio of -33.73, a PEG ratio of 5.89 and a beta of 2.03. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.36 and a current ratio of 0.87. Alta Equipment Group Inc. has a 52 week low of $6.58 and a 52 week high of $15.33.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings results on Wednesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Alta Equipment Group had a negative return on equity of 9.45% and a negative net margin of 1.32%. As a group, analysts anticipate that Alta Equipment Group Inc. will post 0.09 EPS for the current year.

Several brokerages recently commented on ALTG. Raymond James upgraded Alta Equipment Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $12.50 to $16.00 in a research report on Friday, May 14th. B. Riley upped their target price on Alta Equipment Group from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, May 14th. DA Davidson began coverage on Alta Equipment Group in a research report on Thursday, March 18th. They set a “buy” rating and a $14.00 target price on the stock. Finally, Zacks Investment Research upgraded Alta Equipment Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 19th.

Several hedge funds have recently bought and sold shares of ALTG. Blair William & Co. IL lifted its holdings in shares of Alta Equipment Group by 1,575.0% in the fourth quarter. Blair William & Co. IL now owns 539,343 shares of the company’s stock valued at $5,329,000 after purchasing an additional 507,143 shares in the last quarter. EAM Investors LLC bought a new position in shares of Alta Equipment Group in the first quarter valued at approximately $1,548,000. Russell Investments Group Ltd. increased its position in shares of Alta Equipment Group by 21.8% during the fourth quarter. Russell Investments Group Ltd. now owns 575,731 shares of the company’s stock valued at $5,687,000 after acquiring an additional 103,205 shares during the last quarter. BlackRock Inc. increased its position in shares of Alta Equipment Group by 4.1% during the fourth quarter. BlackRock Inc. now owns 1,197,089 shares of the company’s stock valued at $11,827,000 after acquiring an additional 47,363 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Alta Equipment Group during the first quarter valued at approximately $563,000. Institutional investors own 66.30% of the company’s stock.

About Alta Equipment Group

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, cranes, earthmoving equipment, and other material handling and construction equipment.

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