CIBC Private Wealth Group LLC Has $3.67 Million Stock Position in Alta Equipment Group Inc. (NYSE:ALTG)

CIBC Private Wealth Group LLC lowered its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 6.0% during the fourth quarter, Holdings Channel reports. The fund owned 565,751 shares of the company’s stock after selling 36,425 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Alta Equipment Group were worth $3,672,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mill Road Capital Management LLC grew its position in Alta Equipment Group by 18.2% during the 3rd quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock worth $28,397,000 after purchasing an additional 650,214 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after buying an additional 2,375 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alta Equipment Group by 167.8% during the third quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock valued at $347,000 after buying an additional 32,218 shares in the last quarter. Barclays PLC raised its position in Alta Equipment Group by 302.8% during the third quarter. Barclays PLC now owns 38,327 shares of the company’s stock valued at $258,000 after buying an additional 28,812 shares during the period. Finally, State Street Corp lifted its stake in Alta Equipment Group by 2.5% in the 3rd quarter. State Street Corp now owns 485,892 shares of the company’s stock worth $3,275,000 after acquiring an additional 11,946 shares in the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Insiders Place Their Bets

In related news, COO Craig Brubaker sold 5,294 shares of Alta Equipment Group stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total value of $26,470.00. Following the completion of the sale, the chief operating officer now owns 98,640 shares of the company’s stock, valued at approximately $493,200. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. B. Riley started coverage on Alta Equipment Group in a report on Thursday, March 27th. They issued a “buy” rating and a $10.00 target price on the stock. Raymond James cut their target price on shares of Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.63.

Alta Equipment Group Stock Up 5.7 %

ALTG opened at $4.83 on Thursday. The company has a market capitalization of $158.71 million, a PE ratio of -2.84 and a beta of 1.81. The business has a 50-day moving average of $6.04 and a 200-day moving average of $6.60. Alta Equipment Group Inc. has a fifty-two week low of $4.35 and a fifty-two week high of $13.67. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43.

Alta Equipment Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Saturday, February 15th were paid a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date was Friday, February 14th. Alta Equipment Group’s dividend payout ratio (DPR) is presently -11.22%.

Alta Equipment Group Company Profile

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.