Renaissance Technologies LLC Raises Holdings in Alto Ingredients, Inc. $ALTO

Renaissance Technologies LLC increased its position in Alto Ingredients, Inc. (NASDAQ:ALTO) by 9.8% in the 1st quarter, HoldingsChannel reports. The fund owned 1,673,657 shares of the company’s stock after purchasing an additional 149,657 shares during the period. Renaissance Technologies LLC’s holdings in Alto Ingredients were worth $8,100,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in Alto Ingredients by 8.5% during the first quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock worth $314,000 after purchasing an additional 21,626 shares during the period. JPMorgan Chase & Co. raised its position in shares of Alto Ingredients by 2,539,250.0% in 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 lifted its stake in shares of Alto Ingredients by 5.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 487,059 shares of the company’s stock valued at $560,000 after buying an additional 27,007 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Alto Ingredients during the 3rd quarter valued at approximately $52,000. Finally, Hamilton Capital Partners LLC bought a new position in Alto Ingredients in the 4th quarter worth approximately $577,000. 42.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALTO. HC Wainwright lifted their price objective on shares of Alto Ingredients from $5.50 to $10.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Alto Ingredients in a research report on Friday. Finally, Zacks Research lowered Alto Ingredients from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alto Ingredients currently has an average rating of “Hold” and an average target price of $10.00.

Insider Activity

In other Alto Ingredients news, Director Gilbert E. Nathan purchased 20,000 shares of Alto Ingredients stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $4.61 per share, for a total transaction of $92,200.00. Following the acquisition, the director directly owned 769,741 shares in the company, valued at approximately $3,548,506.01. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.28% of the stock is owned by insiders.

Alto Ingredients Trading Up 2.1%

Shares of ALTO opened at $4.86 on Tuesday. The stock has a market capitalization of $376.60 million, a P/E ratio of 13.14 and a beta of 0.17. Alto Ingredients, Inc. has a twelve month low of $0.92 and a twelve month high of $6.11. The company has a quick ratio of 2.54, a current ratio of 3.81 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $5.30 and a two-hundred day simple moving average of $4.40.

Alto Ingredients (NASDAQ:ALTO) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.13. The firm had revenue of $224.68 million for 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.

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.