Corsair Capital Management L.P. Acquires Shares of 88,117 Alto Ingredients, Inc. (NASDAQ:ALTO)

Corsair Capital Management L.P. purchased a new stake in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 88,117 shares of the company’s stock, valued at approximately $142,000. Corsair Capital Management L.P. owned approximately 0.12% of Alto Ingredients at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in Alto Ingredients by 53.4% in the second quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock worth $2,423,000 after buying an additional 583,967 shares during the last quarter. Panagora Asset Management Inc. bought a new position in Alto Ingredients in the 2nd quarter valued at approximately $400,000. Marshall Wace LLP purchased a new stake in Alto Ingredients during the 2nd quarter valued at $202,000. GSA Capital Partners LLP increased its holdings in shares of Alto Ingredients by 100.5% in the 3rd quarter. GSA Capital Partners LLP now owns 247,676 shares of the company’s stock worth $399,000 after purchasing an additional 124,163 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised 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 purchasing an additional 114,571 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Alto Ingredients Price Performance

Shares of NASDAQ:ALTO opened at $1.41 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.22 and a quick ratio of 2.15. The stock’s 50-day simple moving average is $1.62 and its two-hundred day simple moving average is $1.53. Alto Ingredients, Inc. has a 52-week low of $1.18 and a 52-week high of $3.00.

Alto Ingredients (NASDAQ:ALTO) last issued its earnings results 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). The company had revenue of $251.81 million for the quarter, compared to the consensus estimate of $274.94 million. Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. During the same quarter in the prior year, the company posted ($0.05) EPS. As a group, equities analysts forecast that Alto Ingredients, Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

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

About Alto Ingredients

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.