Alto Ingredients, Inc. $ALTO Shares Acquired by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management increased its stake in Alto Ingredients by 590.1% in the first quarter, ending with 1,000,703 shares worth about $4.84 million.
• Alto Ingredients also saw additional institutional and insider buying, including Director Gilbert E. Nathan purchasing 20,000 shares in May; institutional investors and hedge funds now own about 42.44% of the stock.
• The company recently beat earnings and revenue expectations for the quarter, reporting EPS of $0.05 versus an expected loss and revenue of $224.68 million, while analysts currently rate the stock a Hold with an average target price of $10.00.

Hillsdale Investment Management Inc. increased its holdings in shares of Alto Ingredients, Inc. (NASDAQ:ALTO - Free Report) by 590.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,000,703 shares of the company's stock after purchasing an additional 855,703 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 1.29% of Alto Ingredients worth $4,843,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALTO. Peapod Lane Capital LLC increased its stake in Alto Ingredients by 0.7% in the fourth quarter. Peapod Lane Capital LLC now owns 1,244,198 shares of the company's stock valued at $3,583,000 after purchasing an additional 9,074 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Alto Ingredients in the 4th quarter valued at $3,324,000. Goldman Sachs Group Inc. boosted its holdings in shares of Alto Ingredients by 169.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 715,180 shares of the company's stock valued at $2,060,000 after buying an additional 449,697 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Alto Ingredients by 7.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 522,666 shares of the company's stock valued at $564,000 after buying an additional 35,607 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Alto Ingredients by 10.6% in the 4th quarter. Empowered Funds LLC now owns 373,927 shares of the company's stock valued at $1,077,000 after buying an additional 35,761 shares during the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alto Ingredients

In related news, Director Gilbert E. Nathan acquired 20,000 shares of Alto Ingredients stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $4.61 per share, with a total value of $92,200.00. Following the purchase, the director directly owned 769,741 shares in the company, valued at approximately $3,548,506.01. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ALTO has been the subject of a number of research reports. Zacks Research cut shares of Alto Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen raised Alto Ingredients from a "buy" rating to a "strong-buy" rating in a report on Monday, March 23rd. HC Wainwright lifted their target price on Alto Ingredients from $5.50 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded Alto Ingredients from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $10.00.

Alto Ingredients Trading Down 4.3%

Shares of Alto Ingredients stock opened at $5.62 on Wednesday. Alto Ingredients, Inc. has a 1 year low of $0.92 and a 1 year high of $6.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.54 and a current ratio of 3.81. The company has a market capitalization of $435.49 million, a P/E ratio of 15.19 and a beta of 0.13. The company's fifty day moving average is $5.24 and its two-hundred day moving average is $4.18.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.13. Alto Ingredients had a net margin of 3.20% and a return on equity of 9.77%. The business had revenue of $224.68 million during the quarter, compared to analysts' expectations of $215.65 million. Analysts forecast that Alto Ingredients, Inc. will post 0.54 earnings per share for the current year.

Alto Ingredients Profile

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.

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