Alico (NASDAQ:ALCO) Shares Cross Above 200 Day Moving Average – Here’s Why

Alico, Inc. (NASDAQ:ALCO) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.00 and traded as high as $27.08. Alico shares last traded at $26.58, with a volume of 25,888 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Alico to a “sell” rating in a report on Thursday, August 29th.

Alico Stock Down 0.9 %

The business has a 50-day moving average price of $26.98 and a 200-day moving average price of $26.99. The company has a quick ratio of 0.90, a current ratio of 2.67 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $200.82 million, a price-to-earnings ratio of 7.70 and a beta of 0.79.

Alico Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, September 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. Alico’s dividend payout ratio is currently 5.85%.

Hedge Funds Weigh In On Alico

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in Alico during the 1st quarter worth about $99,000. BNP Paribas Financial Markets boosted its holdings in shares of Alico by 80.1% during the first quarter. BNP Paribas Financial Markets now owns 3,582 shares of the company’s stock worth $105,000 after purchasing an additional 1,593 shares during the period. Quadrature Capital Ltd purchased a new position in Alico during the first quarter valued at approximately $217,000. Transcend Capital Advisors LLC increased its stake in Alico by 7.4% in the 2nd quarter. Transcend Capital Advisors LLC now owns 9,267 shares of the company’s stock valued at $240,000 after buying an additional 640 shares during the period. Finally, Empowered Funds LLC increased its stake in Alico by 8.2% in the 1st quarter. Empowered Funds LLC now owns 13,913 shares of the company’s stock valued at $407,000 after buying an additional 1,050 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Alico Company Profile

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.