BidaskClub Upgrades Alico (ALCO) to Buy

BidaskClub upgraded shares of Alico (NASDAQ:ALCO) from a hold rating to a buy rating in a research report released on Friday morning.

Separately, ValuEngine raised Alico from a hold rating to a buy rating in a research report on Friday, October 19th.

Alico stock opened at $33.15 on Friday. The company has a current ratio of 5.02, a quick ratio of 3.11 and a debt-to-equity ratio of 0.97. Alico has a fifty-two week low of $25.55 and a fifty-two week high of $34.65.

In other news, insider George R. Brokaw sold 524,795 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $34.00, for a total value of $17,843,030.00. Following the sale, the insider now directly owns 372,701 shares of the company’s stock, valued at approximately $12,671,834. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 60.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Alico by 14.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 27,195 shares of the company’s stock worth $863,000 after purchasing an additional 3,532 shares in the last quarter. Bridgeway Capital Management Inc. boosted its position in shares of Alico by 4.9% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 42,821 shares of the company’s stock worth $1,447,000 after purchasing an additional 2,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Alico by 6.0% in the 2nd quarter. Renaissance Technologies LLC now owns 67,291 shares of the company’s stock worth $2,133,000 after purchasing an additional 3,800 shares in the last quarter. Towerview LLC boosted its position in shares of Alico by 25.2% in the 3rd quarter. Towerview LLC now owns 82,541 shares of the company’s stock worth $2,790,000 after purchasing an additional 16,628 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Alico by 16.5% in the 3rd quarter. Vanguard Group Inc. now owns 164,550 shares of the company’s stock worth $5,562,000 after purchasing an additional 23,285 shares in the last quarter. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

About Alico

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates through three segments: Alico Citrus, Conservation and Environmental Resources, and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruits for sale to fresh and processed citrus markets; and contracting for the harvesting, marketing, and hauling of citrus.

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