B. Riley Financial, Inc. Purchases 1,354 Shares of Alta Equipment Group Inc. (NYSE:ALTG) Stock

Alta Equipment Group Inc. (NYSE:ALTG) major shareholder B. Riley Financial, Inc. purchased 1,354 shares of the company’s stock in a transaction that occurred on Tuesday, January 11th. The stock was bought at an average cost of $14.25 per share, for a total transaction of $19,294.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

B. Riley Financial, Inc. also recently made the following trade(s):

  • On Wednesday, December 15th, B. Riley Financial, Inc. purchased 91,247 shares of Alta Equipment Group stock. The stock was bought at an average cost of $13.43 per share, for a total transaction of $1,225,447.21.
  • On Monday, December 13th, B. Riley Financial, Inc. purchased 36,527 shares of Alta Equipment Group stock. The stock was bought at an average cost of $13.49 per share, for a total transaction of $492,749.23.
  • On Wednesday, October 20th, B. Riley Financial, Inc. purchased 5,603 shares of Alta Equipment Group stock. The stock was bought at an average cost of $13.48 per share, for a total transaction of $75,528.44.
  • On Monday, October 18th, B. Riley Financial, Inc. bought 23,086 shares of Alta Equipment Group stock. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $311,661.00.

Shares of Alta Equipment Group stock opened at $14.79 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.59 and a debt-to-equity ratio of 2.28. Alta Equipment Group Inc. has a 52-week low of $9.40 and a 52-week high of $17.38. The stock has a 50-day simple moving average of $14.96 and a 200-day simple moving average of $13.93.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings results on Thursday, November 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). The firm had revenue of $295.00 million for the quarter, compared to analyst estimates of $287.10 million. Alta Equipment Group had a negative net margin of 2.05% and a negative return on equity of 7.10%. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Equities research analysts expect that Alta Equipment Group Inc. will post -0.22 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. B. Riley Financial Inc. lifted its holdings in shares of Alta Equipment Group by 0.7% during the 3rd quarter. B. Riley Financial Inc. now owns 6,257,729 shares of the company’s stock valued at $85,918,000 after buying an additional 41,367 shares during the last quarter. Granahan Investment Management Inc. MA lifted its holdings in Alta Equipment Group by 17.0% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 1,543,234 shares of the company’s stock worth $21,189,000 after purchasing an additional 224,037 shares during the last quarter. BlackRock Inc. lifted its holdings in Alta Equipment Group by 9.8% in the 2nd quarter. BlackRock Inc. now owns 1,337,743 shares of the company’s stock worth $17,779,000 after purchasing an additional 119,207 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in Alta Equipment Group by 33.2% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 1,241,333 shares of the company’s stock worth $16,497,000 after purchasing an additional 309,352 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Alta Equipment Group by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 974,659 shares of the company’s stock worth $12,954,000 after purchasing an additional 47,900 shares during the last quarter. Institutional investors and hedge funds own 61.38% of the company’s stock.

ALTG has been the topic of several research analyst reports. Raymond James reaffirmed an “outperform” rating and set a $24.00 target price on shares of Alta Equipment Group in a research note on Thursday, December 16th. B. Riley lifted their target price on Alta Equipment Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, January 4th. Finally, Zacks Investment Research raised Alta Equipment Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $20.00.

About Alta Equipment Group

Alta Equipment Group, Inc engages in the operation of equipment dealership platforms. It operates through the following segments: Material Handling; Construction Equipment; and Corporate. The Material Handling segment include sale, service, and rental of lift trucks and other material handling equipment in Michigan, Illinois, Indiana and New York.

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

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