Connor Clark & Lunn Investment Management Ltd. Purchases 34,061 Shares of Alto Ingredients, Inc. (NASDAQ:ALTO)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Alto Ingredients, Inc. (NASDAQ:ALTO) by 137.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,788 shares of the company’s stock after acquiring an additional 34,061 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Alto Ingredients worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALTO. Renaissance Technologies LLC lifted its position in Alto Ingredients by 53.4% during the second quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock valued at $2,423,000 after acquiring an additional 583,967 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Alto Ingredients by 9.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,125,552 shares of the company’s stock valued at $1,812,000 after purchasing an additional 93,054 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Alto Ingredients by 48.3% in the second quarter. The Manufacturers Life Insurance Company now owns 351,748 shares of the company’s stock worth $508,000 after acquiring an additional 114,571 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in Alto Ingredients in the 2nd quarter worth approximately $400,000. Finally, GSA Capital Partners LLP boosted its position in shares of Alto Ingredients by 100.5% during the 3rd quarter. GSA Capital Partners LLP now owns 247,676 shares of the company’s stock valued at $399,000 after acquiring an additional 124,163 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Alto Ingredients Stock Performance

NASDAQ ALTO opened at $1.45 on Tuesday. The company has a market capitalization of $111.14 million, a price-to-earnings ratio of -2.80 and a beta of 1.97. Alto Ingredients, Inc. has a 12 month low of $1.18 and a 12 month high of $3.00. The firm’s fifty day moving average price is $1.60 and its 200 day moving average price is $1.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.22 and a quick ratio of 2.15.

Alto Ingredients (NASDAQ:ALTO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. The business had revenue of $251.81 million for the quarter, compared to analyst estimates of $274.94 million. During the same period in the prior year, the company earned ($0.05) EPS. On average, sell-side analysts expect that Alto Ingredients, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Alto Ingredients in a research note on Wednesday, August 7th.

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.