Key Points
- CEO Ryan Greenawalt sold 27,986 shares on March 3 at an average price of $7.05 for proceeds of about $197,301, trimming his stake by 0.49% to 5,721,710 shares (≈$40.34M).
- Alta missed on quarterly EPS (reported ($0.39) vs. ($0.29) expected) though revenue beat at $509.1M; the company has negative profitability (ROE -341.7%, net margin -4.37%), a high debt-to-equity ratio (257.1), a market cap around $235M, and a consensus analyst rating of "Hold" with a $11 price target.
Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) CFO Anthony Colucci sold 8,137 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $7.05, for a total value of $57,365.85. Following the completion of the transaction, the chief financial officer directly owned 240,750 shares in the company, valued at approximately $1,697,287.50. This represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Alta Equipment Group Trading Down 4.3%
Shares of Alta Equipment Group stock opened at $7.29 on Wednesday. The firm has a market cap of $235.03 million, a PE ratio of -2.85 and a beta of 1.54. Alta Equipment Group Inc. has a 1 year low of $3.54 and a 1 year high of $8.99. The company has a debt-to-equity ratio of 257.10, a current ratio of 1.43 and a quick ratio of 0.48. The stock has a fifty day moving average price of $6.28 and a 200-day moving average price of $6.30.
Alta Equipment Group (NYSE:ALTG - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.10). Alta Equipment Group had a negative net margin of 4.37% and a negative return on equity of 341.70%. The company had revenue of $509.10 million for the quarter, compared to the consensus estimate of $489.56 million. Equities research analysts anticipate that Alta Equipment Group Inc. will post -1.92 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Alta Equipment Group in the first quarter worth $138,000. Rhumbline Advisers boosted its position in shares of Alta Equipment Group by 15.9% during the 1st quarter. Rhumbline Advisers now owns 39,374 shares of the company's stock valued at $185,000 after acquiring an additional 5,406 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Alta Equipment Group by 16.2% in the second quarter. First Eagle Investment Management LLC now owns 792,103 shares of the company's stock worth $5,006,000 after purchasing an additional 110,444 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Alta Equipment Group by 23.4% in the second quarter. Los Angeles Capital Management LLC now owns 42,705 shares of the company's stock valued at $270,000 after purchasing an additional 8,105 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in Alta Equipment Group by 147.3% during the second quarter. Citizens Financial Group Inc. RI now owns 230,000 shares of the company's stock valued at $1,454,000 after purchasing an additional 137,000 shares during the last quarter. 73.58% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ALTG has been the subject of several research reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of Alta Equipment Group in a research note on Monday, December 29th. Zacks Research upgraded shares of Alta Equipment Group from a "strong sell" rating to a "hold" rating in a research report on Monday, January 19th. Wall Street Zen raised shares of Alta Equipment Group from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, DA Davidson cut their price objective on shares of Alta Equipment Group from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $11.00.
Get Our Latest Analysis on Alta Equipment Group
Alta Equipment Group Company Profile
(
Get Free Report)
Alta Equipment Group, Inc (NYSE: ALTG) is a North American distributor of material handling and logistics equipment. The company offers a broad lineup of forklifts, lift trucks, aerial work platforms, tow motors, pallet jacks and related attachments, serving manufacturing, warehousing, distribution and industrial facilities. Through its network of branch locations, Alta Equipment provides customers with new and used sales, short- and long-term rentals, and integrated fleet management solutions designed to support operational efficiency.
In addition to equipment sales, Alta Equipment supports customers with comprehensive after-sales services.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
