Portolan Capital Management LLC Makes New Investment in Alta Equipment Group Inc. (NYSE:ALTG)

Portolan Capital Management LLC purchased a new stake in Alta Equipment Group Inc. (NYSE:ALTG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 850,309 shares of the company’s stock, valued at approximately $5,561,000.

Other large investors also recently made changes to their positions in the company. First Eagle Investment Management LLC acquired a new stake in Alta Equipment Group during the fourth quarter valued at approximately $2,589,000. AlphaQuest LLC lifted its position in shares of Alta Equipment Group by 4,768.3% during the 4th quarter. AlphaQuest LLC now owns 49,316 shares of the company’s stock valued at $323,000 after acquiring an additional 48,303 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Alta Equipment Group by 14.2% during the 4th quarter. Royce & Associates LP now owns 265,270 shares of the company’s stock worth $1,735,000 after acquiring an additional 33,035 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alta Equipment Group by 167.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock worth $347,000 after acquiring an additional 32,218 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Alta Equipment Group by 302.8% in the third quarter. Barclays PLC now owns 38,327 shares of the company’s stock worth $258,000 after acquiring an additional 28,812 shares in the last quarter. Institutional investors own 73.58% of the company’s stock.

Insider Buying and Selling

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the sale, the chief operating officer now owns 98,640 shares of the company’s stock, valued at $493,200. This trade represents a 5.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 19.90% of the company’s stock.

Alta Equipment Group Stock Up 0.8 %

Shares of Alta Equipment Group stock opened at $4.32 on Monday. Alta Equipment Group Inc. has a 12-month low of $3.54 and a 12-month high of $12.51. The stock has a market capitalization of $141.79 million, a P/E ratio of -2.54 and a beta of 1.55. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45. The stock has a 50 day moving average price of $5.50 and a two-hundred day moving average price of $6.46.

Alta Equipment Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were paid a $0.057 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.23 dividend on an annualized basis and a yield of 5.28%. Alta Equipment Group’s payout ratio is presently -11.22%.

Analyst Ratings Changes

Several analysts have recently commented on ALTG shares. Raymond James decreased their target price on 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. B. Riley started coverage on Alta Equipment Group in a research note on Thursday, March 27th. They set a “buy” rating and a $10.00 target price on the stock. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.63.

About Alta Equipment Group

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.