CastleKnight Management LP Grows Stock Holdings in Alta Equipment Group Inc. $ALTG

CastleKnight Management LP grew its stake in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 11.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 870,128 shares of the company’s stock after buying an additional 89,068 shares during the quarter. CastleKnight Management LP’s holdings in Alta Equipment Group were worth $4,003,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Alta Equipment Group by 262.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 199,434 shares of the company’s stock valued at $1,444,000 after buying an additional 144,350 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Alta Equipment Group during the 3rd quarter valued at $652,000. Royce & Associates LP grew its stake in shares of Alta Equipment Group by 8.3% during the 3rd quarter. Royce & Associates LP now owns 546,792 shares of the company’s stock valued at $3,959,000 after buying an additional 42,054 shares during the period. R Squared Ltd purchased a new stake in shares of Alta Equipment Group during the 3rd quarter valued at $79,000. Finally, RBF Capital LLC grew its stake in shares of Alta Equipment Group by 35.2% during the 4th quarter. RBF Capital LLC now owns 179,956 shares of the company’s stock valued at $828,000 after buying an additional 46,807 shares during the period. 73.58% of the stock is owned by hedge funds and other institutional investors.

Alta Equipment Group Stock Down 0.3%

Shares of Alta Equipment Group stock opened at $7.22 on Thursday. The company has a fifty day moving average price of $6.63 and a 200 day moving average price of $6.17. The company has a current ratio of 1.37, a quick ratio of 0.47 and a debt-to-equity ratio of 257.10. Alta Equipment Group Inc. has a twelve month low of $4.16 and a twelve month high of $8.99. The stock has a market cap of $234.78 million, a price-to-earnings ratio of -2.85 and a beta of 1.73.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). Alta Equipment Group had a negative return on equity of 3,253.61% and a negative net margin of 4.33%.The business had revenue of $410.50 million for the quarter, compared to analysts’ expectations of $424.18 million. Equities research analysts forecast that Alta Equipment Group Inc. will post -1.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ALTG shares. DA Davidson raised shares of Alta Equipment Group to a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alta Equipment Group in a research note on Friday, May 29th. Wall Street Zen cut shares of Alta Equipment Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Raymond James Financial raised shares of Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $9.50 price objective for the company in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Alta Equipment Group has an average rating of “Hold” and an average target price of $12.17.

Alta Equipment Group Company Profile

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.