Alico, Inc. (NASDAQ:ALCO) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 18,100 shares, a drop of 27.0% from the September 15th total of 24,800 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 8,000 shares, the short-interest ratio is currently 2.3 days.
NASDAQ ALCO traded up $0.20 during mid-day trading on Monday, reaching $31.90. 293 shares of the stock were exchanged, compared to its average volume of 6,972. Alico has a one year low of $25.25 and a one year high of $34.69. The stock has a 50 day simple moving average of $33.27 and a 200-day simple moving average of $30.23. The stock has a market cap of $238.50 million, a P/E ratio of 11.56 and a beta of 0.78. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.89 and a quick ratio of 0.57.
Alico (NASDAQ:ALCO) last announced its earnings results on Tuesday, August 6th. The company reported $2.13 earnings per share for the quarter. Alico had a net margin of 17.99% and a return on equity of 11.76%. The business had revenue of $57.57 million during the quarter.
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.75%. The ex-dividend date was Thursday, September 26th.
In other news, Director 734 Investors, Llc sold 7,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $33.95, for a total transaction of $237,650.00. Following the completion of the transaction, the director now owns 3,173,405 shares of the company’s stock, valued at $107,737,099.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Alico by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 27,612 shares of the company’s stock valued at $837,000 after purchasing an additional 1,426 shares in the last quarter. Vanguard Group Inc. increased its stake in Alico by 48.2% in the second quarter. Vanguard Group Inc. now owns 296,879 shares of the company’s stock valued at $9,008,000 after purchasing an additional 96,490 shares in the last quarter. BlackRock Inc. increased its stake in Alico by 16.6% in the second quarter. BlackRock Inc. now owns 280,278 shares of the company’s stock valued at $8,503,000 after purchasing an additional 39,856 shares in the last quarter. Towerview LLC increased its stake in Alico by 3.3% in the second quarter. Towerview LLC now owns 95,000 shares of the company’s stock valued at $2,882,000 after purchasing an additional 3,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Alico by 107.5% in the second quarter. JPMorgan Chase & Co. now owns 2,202 shares of the company’s stock valued at $66,000 after purchasing an additional 1,141 shares in the last quarter. 26.86% of the stock is owned by hedge funds and other institutional investors.
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 Water 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, including activities related to the purchase and resale of fruit and value-added services, which comprise contracting for the harvesting, marketing, and hauling of citrus.
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