Acadian Asset Management LLC Lowers Position in Alto Ingredients, Inc. (NASDAQ:ALTO)

Acadian Asset Management LLC decreased its stake in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) by 46.2% in the second quarter, Holdings Channel.com reports. The fund owned 315,139 shares of the company’s stock after selling 270,707 shares during the period. Acadian Asset Management LLC’s holdings in Alto Ingredients were worth $454,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALTO. SG Americas Securities LLC purchased a new stake in Alto Ingredients in the 1st quarter worth $62,000. Virtu Financial LLC bought a new stake in shares of Alto Ingredients in the first quarter worth about $68,000. Aigen Investment Management LP purchased a new stake in shares of Alto Ingredients in the fourth quarter worth about $135,000. Susquehanna Fundamental Investments LLC bought a new position in Alto Ingredients during the first quarter valued at approximately $131,000. Finally, Empowered Funds LLC bought a new position in Alto Ingredients during the first quarter valued at approximately $286,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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 Price Performance

Alto Ingredients stock opened at $1.77 on Thursday. Alto Ingredients, Inc. has a 52-week low of $1.28 and a 52-week high of $4.98. The company has a quick ratio of 2.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average is $1.48 and its 200 day moving average is $1.67. The company has a market cap of $133.98 million, a price-to-earnings ratio of -4.66 and a beta of 1.97.

Alto Ingredients (NASDAQ:ALTO) last announced its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. The firm had revenue of $236.47 million for the quarter, compared to analysts’ expectations of $236.17 million. Alto Ingredients had a negative net margin of 3.49% and a negative return on equity of 11.26%. During the same period in the prior year, the company earned $0.10 EPS. Sell-side analysts forecast that Alto Ingredients, Inc. will post -0.04 EPS for the current fiscal year.

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.