Professional
Added to YB: 2024-05-06
Pitch date: 2024-04-28
ALTG [bullish]
Alta Equipment Group Inc.
-51.88%
current return
Author Info
Greenhaven Road is a boutique hedge fund with the patience and confidence to step outside of the norm. Visit their website.
Company Info
Alta Equipment Group Inc. owns and operates integrated equipment dealership platforms in the United States and Canada.
Market Cap
$149.2M
Pitch Price
$11.33
Price Target
N/A
Dividend
N/A
EV/EBITDA
14.55
P/E
-1.85
EV/Sales
0.74
Sector
Trading Companies and Distributors
Category
value
Greenhaven Road Capital Main Fund New Portfolio Holding: Alta Equipment Group Inc.
ALTG: Less cyclical than it appears, generates more cash & has less debt than it seems. Significant hidden growing annuity-like asset in parts & services. Run by owner-operator Ryan Greenawalt with long growth runway. Trades at ~3x EBITDA ex-floor plan debt. 2023 FCFE $2.84/share, up from $0.74 4yrs ago with shares flat. Buybacks likely if price stays low as CEO owns 18%.
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