Bridgeway Capital Management LLC Sells 105,551 Shares of Alto Ingredients, Inc. (NASDAQ:ALTO)

Bridgeway Capital Management LLC trimmed its stake in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) by 19.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,426 shares of the company’s stock after selling 105,551 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Alto Ingredients were worth $684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALTO. Barclays PLC lifted its stake in shares of Alto Ingredients by 123.9% in the 3rd quarter. Barclays PLC now owns 76,703 shares of the company’s stock valued at $123,000 after acquiring an additional 42,450 shares during the last quarter. Marquette Asset Management LLC bought a new position in Alto Ingredients in the fourth quarter valued at about $213,000. Empowered Funds LLC boosted its stake in shares of Alto Ingredients by 4.9% during the fourth quarter. Empowered Funds LLC now owns 253,926 shares of the company’s stock valued at $396,000 after purchasing an additional 11,949 shares in the last quarter. Peapod Lane Capital LLC acquired a new position in shares of Alto Ingredients in the fourth quarter valued at approximately $1,465,000. Finally, SBI Securities Co. Ltd. bought a new position in Alto Ingredients in the 4th quarter valued at approximately $54,000. Institutional investors own 42.44% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.50 price target on shares of Alto Ingredients in a research note on Thursday, March 6th.

Alto Ingredients Stock Up 2.3%

Shares of ALTO opened at $0.87 on Monday. The stock’s 50-day moving average price is $1.05 and its two-hundred day moving average price is $1.40. Alto Ingredients, Inc. has a 12 month low of $0.76 and a 12 month high of $2.05. The company has a market capitalization of $66.33 million, a PE ratio of -1.67 and a beta of 1.56. The company has a current ratio of 3.22, a quick ratio of 2.15 and a debt-to-equity ratio of 0.32.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. The company had revenue of $226.54 million during the quarter, compared to analyst estimates of $222.19 million. On average, analysts anticipate that Alto Ingredients, Inc. will post -0.37 EPS for the current year.

Alto Ingredients Profile

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.