BlackRock Discloses 3.0% Stake in Alta Equipment Group
Ticker: ALTG-PA · Form: SC 13G · Filed: Jan 25, 2024 · CIK: 1759824
| Field | Detail |
|---|---|
| Company | Alta Equipment Group INC. (ALTG-PA) |
| Form Type | SC 13G |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, stake-disclosure
TL;DR
**BlackRock just revealed a 3.0% stake in Alta Equipment Group as of year-end 2023.**
AI Summary
BlackRock Inc., a major investment firm, reported on January 25, 2024, that as of December 31, 2023, it beneficially owns 1,023,286 shares of Alta Equipment Group Inc.'s Class A Common Stock. This represents 3.0% of Alta Equipment Group's outstanding shares. This matters to investors because BlackRock is a significant institutional investor, and their holding indicates a level of confidence in Alta Equipment Group, a company that distributes industrial machinery and equipment.
Why It Matters
This filing shows that a major institutional investor, BlackRock, holds a notable stake in Alta Equipment Group, signaling their belief in the company's value.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of an institutional holding and does not indicate any immediate negative risk.
Analyst Insight
Investors should note BlackRock's position as a vote of confidence, but also research Alta Equipment Group's fundamentals to understand the investment thesis behind this institutional holding.
Key Numbers
- 1,023,286 — Shares Beneficially Owned (The total number of Class A Common Stock shares of Alta Equipment Group Inc. held by BlackRock Inc. as of December 31, 2023.)
- 3.0% — Ownership Percentage (The percentage of Alta Equipment Group Inc.'s Class A Common Stock that BlackRock Inc. beneficially owns.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G
- ALTA EQUIPMENT GROUP INC. (company) — the subject company whose shares are being reported
- 1,023,286 (dollar_amount) — number of shares beneficially owned by BlackRock
- 3.0% (dollar_amount) — percentage of Class A Common Stock owned by BlackRock
- December 31, 2023 (person) — the date of the event requiring the filing
Forward-Looking Statements
- BlackRock will maintain or slightly increase its stake in Alta Equipment Group Inc. over the next year. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
Who filed this SC 13G statement?
This SC 13G statement was filed by BlackRock Inc., a major investment management corporation, as indicated in the 'FILED BY' section of the filing.
What company's shares are being reported in this filing?
The shares being reported belong to ALTA EQUIPMENT GROUP INC., specifically their Class A Common Stock, as stated under 'Name of Issuer' and 'Title of Class of Securities'.
As of what date did the event requiring this filing occur?
The event requiring this filing occurred on December 31, 2023, as specified under 'Date of Event Which Requires Filing of this Statement'.
What percentage of Alta Equipment Group Inc.'s Class A Common Stock does BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owns 3.0% of Alta Equipment Group Inc.'s Class A Common Stock, based on the information provided in the filing.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Class A Common Stock of Alta Equipment Group Inc. is 02128L106, as listed in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 25, 2024 by December 31, 2023 regarding ALTA EQUIPMENT GROUP INC. (ALTG-PA).