Connor Clark & Lunn Investment Management Ltd. Buys New Holdings in Alto Ingredients, Inc. $ALTO

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alto Ingredients, Inc. (NASDAQ:ALTO) during the second quarter, HoldingsChannel reports. The fund purchased 855,702 shares of the company’s stock, valued at approximately $4,878,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vontobel Holding Ltd. purchased a new stake in Alto Ingredients during the 4th quarter valued at approximately $33,000. Leonteq Securities AG purchased a new position in shares of Alto Ingredients in the fourth quarter worth $44,000. CreativeOne Wealth LLC purchased a new position in shares of Alto Ingredients in the fourth quarter worth $46,000. Bank of New York Mellon Corp bought a new position in shares of Alto Ingredients during the first quarter worth $49,000. Finally, Virtu Financial LLC bought a new position in shares of Alto Ingredients during the third quarter worth $52,000. 42.44% of the stock is currently owned by institutional investors.

Alto Ingredients Stock Up 0.5%

NASDAQ ALTO opened at $4.09 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.17 and a current ratio of 3.19. The company has a market capitalization of $317.26 million, a P/E ratio of 6.10 and a beta of 0.17. Alto Ingredients, Inc. has a one year low of $0.92 and a one year high of $6.11. The stock has a 50 day moving average price of $4.90 and a 200-day moving average price of $4.61.

Alto Ingredients (NASDAQ:ALTO) last posted its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. Alto Ingredients had a net margin of 5.51% and a return on equity of 18.54%. The firm had revenue of $245.70 million during the quarter, compared to analyst estimates of $231.24 million. As a group, equities analysts predict that Alto Ingredients, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on ALTO shares. HC Wainwright reiterated a “buy” rating on shares of Alto Ingredients in a report on Thursday, August 6th. Scotiabank set a $10.00 price objective on shares of Alto Ingredients in a report on Thursday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Alto Ingredients in a report on Friday, July 31st. Finally, Zacks Research lowered Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Insider Buying and Selling

In other Alto Ingredients news, Director Gilbert E. Nathan acquired 50,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was acquired at an average price of $4.15 per share, for a total transaction of $207,500.00. Following the completion of the transaction, the director directly owned 856,393 shares of the company’s stock, valued at $3,554,030.95. This trade represents a 6.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.28% of the stock is owned by company insiders.

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.