Alico (NASDAQ:ALCO) Share Price Passes Above 200-Day Moving Average Following Insider Selling

Shares of Alico, Inc. (NASDAQ:ALCO) crossed above its 200-day moving average during trading on Thursday following insider buying activity. The stock has a 200-day moving average of $30.82 and traded as high as $34.16. Alico shares last traded at $34.12, with a volume of 18,647 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Alico from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd.

Alico Trading Up 0.3%

The company has a fifty day moving average of $32.75 and a two-hundred day moving average of $30.82. The company has a current ratio of 9.37, a quick ratio of 8.87 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $261.02 million, a price-to-earnings ratio of -1.66 and a beta of 1.01.

Alico (NASDAQ:ALCO) last posted its earnings results on Tuesday, August 12th. The company reported ($2.39) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($1.30). Alico had a negative return on equity of 58.27% and a negative net margin of 355.13%.The company had revenue of $8.39 million during the quarter, compared to analyst estimates of $16.90 million. On average, research analysts expect that Alico, Inc. will post -0.37 EPS for the current year.

Alico Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, June 27th. Alico’s payout ratio is -0.97%.

Institutional Investors Weigh In On Alico

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in Alico in the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in Alico by 8,107.1% in the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the company’s stock valued at $69,000 after buying an additional 2,270 shares during the last quarter. Covestor Ltd acquired a new position in Alico in the 1st quarter valued at approximately $73,000. PNC Financial Services Group Inc. raised its holdings in Alico by 21.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,591 shares of the company’s stock valued at $77,000 after acquiring an additional 464 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Alico by 792.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company’s stock valued at $107,000 after acquiring an additional 2,917 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

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.