Gilbert Nathan Purchases 50,000 Shares of Alto Ingredients (NASDAQ:ALTO) Stock

Key Points

• Director Gilbert Nathan bought 50,000 Alto Ingredients shares at an average price of $4.15, investing $207,500 and increasing his holdings by 6.2% to 856,393 shares.
• Alto Ingredients exceeded quarterly expectations, reporting $0.15 in EPS versus the $0.08 consensus and revenue of $245.7 million versus $231.24 million expected.
• The stock traded near $4.06, while analysts maintained a consensus “Hold” rating with a $10.00 target price; institutional investors and hedge funds own 42.44% of the company.

Alto Ingredients, Inc. (NASDAQ:ALTO - Get Free Report) Director Gilbert Nathan purchased 50,000 shares of Alto Ingredients stock in a transaction dated Tuesday, August 11th. The stock was bought at an average cost of $4.15 per share, with a total value of $207,500.00. Following the completion of the purchase, the director owned 856,393 shares in the company, valued at approximately $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 accessible through the SEC website.

Alto Ingredients Price Performance

Shares of NASDAQ ALTO traded down $0.11 during mid-day trading on Wednesday, reaching $4.06. 1,820,251 shares of the company traded hands, compared to its average volume of 2,009,739. Alto Ingredients, Inc. has a fifty-two week low of $0.92 and a fifty-two week high of $6.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.81 and a quick ratio of 2.54. The firm has a market cap of $314.59 million, a PE ratio of 6.06 and a beta of 0.17. The stock has a fifty day simple moving average of $5.20 and a 200-day simple moving average of $4.48.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. Alto Ingredients had a return on equity of 18.94% and a net margin of 5.51%.The firm had revenue of $245.70 million during the quarter, compared to the consensus estimate of $231.24 million. Equities research analysts anticipate that Alto Ingredients, Inc. will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Alto Ingredients

A number of hedge funds have recently modified their holdings of ALTO. BlackRock Inc. purchased a new stake in 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 4th quarter valued at approximately $3,324,000. Hillsdale Investment Management Inc. boosted its stake in Alto Ingredients by 590.1% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company's stock worth $4,843,000 after purchasing an additional 855,703 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Alto Ingredients by 67.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company's stock worth $8,665,000 after purchasing an additional 723,996 shares during the period. Finally, Bank of America Corp DE grew its position in Alto Ingredients by 1,441.7% during the 1st quarter. Bank of America Corp DE now owns 550,294 shares of the company's stock worth $2,663,000 after purchasing an additional 514,600 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Scotiabank set a $10.00 target price on Alto Ingredients in a report on Thursday, August 6th. HC Wainwright reissued a "buy" rating on shares of Alto Ingredients in a report on Thursday, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Alto Ingredients in a research report on Friday, July 31st. Finally, Zacks Research cut shares of Alto Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $10.00.

About Alto Ingredients

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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