Figma Shares Indicated To Open $105/$110
Andrew Studdert, a director at Alta Equipment Group Inc. (NYSE:ALTG), recently acquired a significant amount of the company’s common stock, as reported in a recent SEC filing. The purchase comes as the stock trades near $4.72, down over 40% in the past six months, according to InvestingPro data. On May 29, Studdert purchased 6,743 shares at a weighted average price of $4.7973 per share, with prices ranging from $4.79 to $4.8184. The following day, on May 30, he acquired an additional 3,257 shares at a price of $4.805 per share. The total value of these transactions amounted to $47,998. After these acquisitions, Studdert’s direct ownership in the company increased to 96,591 shares. This insider buying aligns with broader management share repurchases, though InvestingPro analysis indicates the company’s overall financial health score remains weak. Get access to 8 more key ProTips and comprehensive insider trading analysis with InvestingPro.
In other recent news, Alta Equipment Group reported its Q1 2025 earnings, showing a mixed financial performance with a 4.2% decline in revenue year-over-year to $423 million. The company’s adjusted EBITDA also saw a slight decrease of $500,000 compared to the previous year. Despite these declines, Alta Equipment managed to improve gross margins, particularly in its service segment, and reduced SG&A expenses by $7.9 million. The company has suspended its quarterly dividend and increased its share repurchase program, indicating a strategic shift in capital allocation. Analysts from DA Davidson have adjusted their price target for Alta Equipment from $9.00 to $8.00 while maintaining a Buy rating, reflecting a cautious but optimistic outlook. Stifel analysts noted stable demand in the Construction Equipment sector and promising margins in the Material Handling division. Alta Equipment’s strategic focus includes improving product support gross margins and exploring opportunities in e-mobility and infrastructure development. The company also reaffirmed its adjusted EBITDA guidance for the full year 2025, projecting it to be between $171.5 million and $186.5 million.
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