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

Alico, Inc. (NASDAQ:ALCO) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 225,300 shares, a decline of 6.8% from the March 31st total of 241,800 shares. Currently, 4.3% of the company’s shares are short sold. Based on an average trading volume of 24,000 shares, the short-interest ratio is currently 9.4 days.

Institutional Investors Weigh In On Alico

Several large investors have recently added to or reduced their stakes in ALCO. Towerview LLC grew its stake in shares of Alico by 11.0% in the third quarter. Towerview LLC now owns 199,322 shares of the company’s stock worth $4,975,000 after acquiring an additional 19,822 shares in the last quarter. Redmont Wealth Advisors LLC increased its holdings in Alico by 22.2% during the 4th quarter. Redmont Wealth Advisors LLC now owns 27,809 shares of the company’s stock worth $809,000 after purchasing an additional 5,056 shares during the period. SG Americas Securities LLC purchased a new position in shares of Alico in the 4th quarter valued at about $120,000. Bank of New York Mellon Corp grew its position in shares of Alico by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 71,140 shares of the company’s stock worth $1,776,000 after buying an additional 604 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its stake in shares of Alico by 4.3% during the third quarter. Pacific Ridge Capital Partners LLC now owns 215,500 shares of the company’s stock worth $5,379,000 after buying an additional 8,971 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.

Alico Stock Performance

NASDAQ:ALCO opened at $28.55 on Tuesday. Alico has a fifty-two week low of $22.58 and a fifty-two week high of $31.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 2.52. The company has a 50 day moving average price of $28.09 and a 200 day moving average price of $27.93. The stock has a market capitalization of $217.55 million, a P/E ratio of 4.53 and a beta of 0.86.

Alico (NASDAQ:ALCO) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($0.29) by ($2.06). The firm had revenue of $13.99 million for the quarter, compared to analysts’ expectations of $11.50 million. Alico had a negative return on equity of 14.09% and a net margin of 110.84%. Equities research analysts forecast that Alico will post -3.41 EPS for the current year.

Alico Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Wednesday, March 27th. Alico’s payout ratio is 3.17%.

About Alico

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 engages in planting, owning, cultivating, and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing, and hauling of citrus.