Hillsdale Investment Management Inc. Acquires New Holdings in Alto Ingredients, Inc. $ALTO

Hillsdale Investment Management Inc. acquired a new stake in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 145,000 shares of the company’s stock, valued at approximately $418,000. Hillsdale Investment Management Inc. owned 0.19% of Alto Ingredients as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALTO. Leonteq Securities AG purchased a new position in Alto Ingredients during the fourth quarter valued at approximately $44,000. Virtu Financial LLC purchased a new position in Alto Ingredients during the third quarter valued at approximately $52,000. JPMorgan Chase & Co. increased its holdings in Alto Ingredients by 2,539,250.0% during the second quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company’s stock valued at $58,000 after buying an additional 50,785 shares during the period. Sagespring Wealth Partners LLC purchased a new position in Alto Ingredients during the fourth quarter valued at approximately $72,000. Finally, Empowered Funds LLC increased its holdings in Alto Ingredients by 8.5% during the first quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock valued at $314,000 after buying an additional 21,626 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

Alto Ingredients Trading Up 4.8%

NASDAQ:ALTO opened at $5.71 on Tuesday. Alto Ingredients, Inc. has a 12 month low of $0.90 and a 12 month high of $5.99. The firm has a fifty day simple moving average of $4.87 and a 200-day simple moving average of $3.53. The company has a current ratio of 3.81, a quick ratio of 2.54 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $442.47 million, a P/E ratio of 15.43 and a beta of 0.13.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.13. Alto Ingredients had a net margin of 3.20% and a return on equity of 9.77%. The business had revenue of $224.68 million during the quarter, compared to the consensus estimate of $215.65 million. On average, equities research analysts anticipate that Alto Ingredients, Inc. will post 0.54 earnings per share for the current year.

Insider Activity at Alto Ingredients

In related news, Director Gilbert E. Nathan acquired 20,000 shares of the stock in a transaction dated 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 purchase, the director owned 769,741 shares of the company’s stock, valued at approximately $3,548,506.01. This represents a 2.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALTO. HC Wainwright raised their target price 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. Wall Street Zen upgraded shares of Alto Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 23rd. Weiss Ratings upgraded shares of Alto Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, Zacks Research downgraded shares of Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

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.