Alico, Inc. (NASDAQ:ALCO) Sees Significant Growth in Short Interest

Alico, Inc. (NASDAQ:ALCOGet Rating) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 205,400 shares, a growth of 6.4% from the October 15th total of 193,000 shares. Based on an average trading volume of 40,900 shares, the days-to-cover ratio is currently 5.0 days. Approximately 4.5% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALCO shares. TheStreet cut Alico from a “b” rating to a “c+” rating in a research note on Friday, August 19th. StockNews.com initiated coverage on Alico in a research report on Wednesday, October 12th. They set a “sell” rating on the stock.

Insiders Place Their Bets

In related news, Director Katherine English sold 1,100 shares of the firm’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $29.52, for a total transaction of $32,472.00. Following the completion of the sale, the director now directly owns 5,100 shares of the company’s stock, valued at approximately $150,552. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Alico

Institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp increased its stake in Alico by 18.1% during the first quarter. Truist Financial Corp now owns 6,528 shares of the company’s stock worth $246,000 after acquiring an additional 1,000 shares during the last quarter. North Star Investment Management Corp. raised its position in shares of Alico by 79.7% during the 1st quarter. North Star Investment Management Corp. now owns 30,445 shares of the company’s stock worth $1,144,000 after purchasing an additional 13,500 shares during the period. Oak Family Advisors LLC increased its position in Alico by 45.6% in the 1st quarter. Oak Family Advisors LLC now owns 126,493 shares of the company’s stock valued at $4,751,000 after acquiring an additional 39,590 shares during the period. Towerview LLC increased its position in Alico by 18.6% in the 1st quarter. Towerview LLC now owns 92,500 shares of the company’s stock valued at $3,474,000 after acquiring an additional 14,500 shares during the period. Finally, CM Management LLC increased its position in Alico by 9.1% in the 1st quarter. CM Management LLC now owns 180,000 shares of the company’s stock valued at $6,761,000 after acquiring an additional 15,000 shares during the period. 44.84% of the stock is currently owned by institutional investors and hedge funds.

Alico Stock Up 0.5 %

ALCO opened at $32.30 on Friday. The business’s fifty day moving average is $30.65 and its two-hundred day moving average is $34.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 2.47. The company has a market cap of $244.35 million, a price-to-earnings ratio of 7.49 and a beta of 0.67. Alico has a one year low of $27.50 and a one year high of $43.65.

Alico Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $2.00 annualized dividend and a yield of 6.19%. Alico’s payout ratio is currently 46.40%.

About Alico

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Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment cultivates citrus trees to produce citrus for delivery to the processed and fresh citrus markets.

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