Algert Global LLC boosted its position in Alto Ingredients, Inc. (NASDAQ:ALTO - Free Report) by 294.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 477,169 shares of the company's stock after buying an additional 356,219 shares during the quarter. Algert Global LLC owned approximately 0.62% of Alto Ingredients worth $2,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Alto Ingredients during the second quarter valued at about $31,322,000. Marshall Wace LLP purchased a new stake in shares of Alto Ingredients in the fourth quarter worth $3,324,000. Hillsdale Investment Management Inc. raised its position in Alto Ingredients by 590.1% during the first quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company's stock valued at $4,843,000 after purchasing an additional 855,703 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alto Ingredients in the second quarter worth approximately $4,878,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Alto Ingredients by 67.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company's stock worth $8,665,000 after buying an additional 723,996 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.
Alto Ingredients Price Performance
NASDAQ:ALTO opened at $4.07 on Friday. The company has a quick ratio of 2.17, a current ratio of 3.19 and a debt-to-equity ratio of 0.23. The business's 50-day simple moving average is $4.89 and its two-hundred day simple moving average is $4.60. Alto Ingredients, Inc. has a 52 week low of $0.92 and a 52 week high of $6.11. The stock has a market cap of $315.71 million, a PE ratio of 6.07 and a beta of 0.17.
Alto Ingredients (NASDAQ:ALTO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. The business had revenue of $245.70 million for the quarter, compared to analysts' expectations of $231.24 million. Alto Ingredients had a net margin of 5.51% and a return on equity of 18.54%. As a group, analysts forecast that Alto Ingredients, Inc. will post 0.39 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Gilbert E. Nathan acquired 50,000 shares of Alto Ingredients stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average cost of $4.15 per share, with a total value of $207,500.00. Following the transaction, the director directly owned 856,393 shares of the company's stock, valued at $3,554,030.95. This trade represents a 6.20% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.28% of the company's stock.
Analysts Set New Price Targets
Several analysts have weighed in on ALTO shares. Scotiabank set a $10.00 price target on shares of Alto Ingredients in a research note on Thursday, August 6th. Zacks Research lowered Alto Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. HC Wainwright restated a "buy" rating on shares of Alto Ingredients in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Alto Ingredients in a research note on Friday, July 31st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Alto Ingredients currently has an average rating of "Hold" and a consensus target price of $10.00.
View Our Latest Report on Alto Ingredients
Alto Ingredients Profile
(
Free Report)
Alto Ingredients, Inc NASDAQ: ALTO is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.
Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.
Further Reading
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