Arrowstreet Capital Limited Partnership Increases Stock Position in Alto Ingredients, Inc. $ALTO

Key Points

• Arrowstreet Capital increased its Alto Ingredients stake by 67.9% in the first quarter, acquiring 723,996 additional shares and bringing its ownership to 1.79 million shares, or 2.32% of the company.
• Alto Ingredients reported quarterly EPS of $0.05, beating the $0.08-per-share loss analysts expected, while revenue of $224.68 million also exceeded estimates. Institutional investors collectively own 42.44% of the stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $10 average price target; HC Wainwright raised its target to $10 and maintained a Buy rating, while Zacks downgraded the stock to Hold.

Arrowstreet Capital Limited Partnership raised its stake in shares of Alto Ingredients, Inc. (NASDAQ:ALTO - Free Report) by 67.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,790,263 shares of the company's stock after purchasing an additional 723,996 shares during the period. Arrowstreet Capital Limited Partnership owned 2.32% of Alto Ingredients worth $8,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its stake in shares of Alto Ingredients by 8.5% in the 1st quarter. Empowered Funds LLC now owns 275,552 shares of the company's stock worth $314,000 after buying an additional 21,626 shares in the last quarter. JPMorgan Chase & Co. raised its position in Alto Ingredients by 2,539,250.0% during the second quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company's stock valued at $58,000 after purchasing an additional 50,785 shares during the period. Bridgeway Capital Management LLC raised its position in Alto Ingredients by 5.9% during the second quarter. Bridgeway Capital Management LLC now owns 487,059 shares of the company's stock valued at $560,000 after purchasing an additional 27,007 shares during the period. Virtu Financial LLC bought a new stake in shares of Alto Ingredients in the 3rd quarter valued at approximately $52,000. Finally, Hamilton Capital Partners LLC bought a new stake in shares of Alto Ingredients in the 4th quarter valued at approximately $577,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Alto Ingredients Trading Up 3.0%

ALTO stock opened at $4.76 on Friday. Alto Ingredients, Inc. has a 12 month low of $0.92 and a 12 month high of $6.11. The firm's 50-day moving average is $5.29 and its 200 day moving average is $4.37. The company has a market capitalization of $368.85 million, a PE ratio of 12.87 and a beta of 0.13. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.81 and a quick ratio of 2.54.

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

Wall Street Analyst Weigh In

ALTO has been the topic of a number of analyst reports. HC Wainwright boosted their price objective on shares of Alto Ingredients from $5.50 to $10.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Zacks Research lowered shares of Alto Ingredients from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Finally, Weiss Ratings raised shares of Alto Ingredients from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $10.00.

Insider Buying and Selling at Alto Ingredients

In other news, Director Gilbert E. Nathan purchased 20,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $4.61 per share, with a total value of $92,200.00. Following the transaction, the director owned 769,741 shares of the company's stock, valued at $3,548,506.01. This represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.28% of the company's stock.

Alto Ingredients Company 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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