Walleye Capital LLC Buys Shares of 465,476 Alto Ingredients, Inc. $ALTO

Walleye Capital LLC bought a new position in Alto Ingredients, Inc. (NASDAQ:ALTO) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 465,476 shares of the company’s stock, valued at approximately $2,253,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ALTO. Peapod Lane Capital LLC raised its stake in Alto Ingredients by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 1,244,198 shares of the company’s stock worth $3,583,000 after buying an additional 9,074 shares during the period. Marshall Wace LLP bought a new position in Alto Ingredients during the fourth quarter worth about $3,324,000. Hillsdale Investment Management Inc. grew its stake in Alto Ingredients by 590.1% in the first quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company’s stock valued at $4,843,000 after acquiring an additional 855,703 shares during the period. Goldman Sachs Group Inc. grew its stake in Alto Ingredients by 169.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 715,180 shares of the company’s stock valued at $2,060,000 after acquiring an additional 449,697 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Alto Ingredients by 74.7% in the first quarter. Dimensional Fund Advisors LP now owns 659,268 shares of the company’s stock worth $3,190,000 after acquiring an additional 281,833 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALTO shares. Weiss Ratings raised Alto Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. HC Wainwright increased their target price on Alto Ingredients from $5.50 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Zacks Research cut 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Alto Ingredients presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Insider Activity

In other news, Director Gilbert E. Nathan acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $4.61 per share, for a total transaction of $92,200.00. Following the completion of the acquisition, the director owned 769,741 shares in the company, valued at $3,548,506.01. This represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.28% of the company’s stock.

Alto Ingredients Price Performance

Shares of NASDAQ ALTO opened at $4.97 on Friday. The company has a fifty day moving average price of $5.31 and a 200 day moving average price of $4.30. The firm has a market cap of $385.13 million, a PE ratio of 13.43 and a beta of 0.13. The company has a current ratio of 3.81, a quick ratio of 2.54 and a debt-to-equity ratio of 0.29. Alto Ingredients, Inc. has a 1-year low of $0.92 and a 1-year high of $6.11.

Alto Ingredients (NASDAQ:ALTO) last released its quarterly earnings results 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 firm had revenue of $224.68 million for the quarter, compared to the consensus estimate of $215.65 million. Alto Ingredients had a return on equity of 9.77% and a net margin of 3.20%. Research analysts predict that Alto Ingredients, Inc. will post 0.54 earnings per share for the current fiscal year.

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.