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

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 855,702 shares of the company’s stock, valued at approximately $4,878,000. Connor Clark & Lunn Investment Management Ltd. owned 1.10% of Alto Ingredients as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Alto Ingredients in the 2nd quarter worth approximately $31,322,000. Arrowstreet Capital Limited Partnership grew its position in Alto Ingredients by 67.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company’s stock valued at $8,665,000 after buying an additional 723,996 shares during the period. Renaissance Technologies LLC grew its position in Alto Ingredients by 9.8% during the first quarter. Renaissance Technologies LLC now owns 1,673,657 shares of the company’s stock valued at $8,100,000 after buying an additional 149,657 shares during the period. Marshall Wace LLP purchased a new stake in Alto Ingredients during the fourth quarter valued at approximately $3,324,000. Finally, Hillsdale Investment Management Inc. increased its holdings in Alto Ingredients by 590.1% during the first quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company’s stock valued at $4,843,000 after buying an additional 855,703 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insiders Place Their Bets

In other Alto Ingredients news, Director Gilbert E. Nathan purchased 50,000 shares of the business’s 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 purchase, the director owned 856,393 shares of the company’s stock, valued at approximately $3,554,030.95. This represents a 6.20% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

ALTO has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating on shares of Alto Ingredients in a research report on Thursday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Alto Ingredients in a research report on Friday, July 31st. Zacks Research lowered Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Scotiabank set a $10.00 target price on Alto Ingredients in a report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.00.

Alto Ingredients Stock Performance

ALTO opened at $4.09 on Friday. The firm has a market cap of $317.26 million, a P/E ratio of 6.10 and a beta of 0.17. Alto Ingredients, Inc. has a 1-year low of $0.92 and a 1-year high of $6.11. The company has a 50 day simple moving average of $4.90 and a two-hundred day simple moving average of $4.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.19 and a quick ratio of 2.17.

Alto Ingredients (NASDAQ:ALTO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $231.24 million. Equities analysts forecast that Alto Ingredients, Inc. will post 0.39 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.