Accordant Advisory Group Inc Purchases 17,521 Shares of Alico, Inc. $ALCO

Accordant Advisory Group Inc lifted its position in Alico, Inc. (NASDAQ:ALCO) by 34.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,723 shares of the company’s stock after buying an additional 17,521 shares during the period. Alico makes up about 1.6% of Accordant Advisory Group Inc’s investment portfolio, making the stock its 18th biggest position. Accordant Advisory Group Inc owned approximately 0.89% of Alico worth $2,347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALCO. Osaic Holdings Inc. lifted its holdings in Alico by 24.2% in the second quarter. Osaic Holdings Inc. now owns 1,611 shares of the company’s stock valued at $53,000 after acquiring an additional 314 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Alico by 792.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company’s stock valued at $107,000 after purchasing an additional 2,917 shares during the last quarter. Gate City Capital Management LLC lifted its stake in shares of Alico by 28.2% in the 2nd quarter. Gate City Capital Management LLC now owns 1,126,553 shares of the company’s stock worth $36,816,000 after purchasing an additional 248,136 shares during the period. Jane Street Group LLC bought a new position in shares of Alico in the 2nd quarter worth approximately $439,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Alico in the second quarter worth approximately $28,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Alico Stock Performance

Shares of NASDAQ ALCO opened at $36.72 on Monday. The stock has a market cap of $281.17 million, a PE ratio of -1.90 and a beta of 1.02. Alico, Inc. has a 1 year low of $25.59 and a 1 year high of $38.40. The firm has a fifty day moving average price of $35.12 and a 200-day moving average price of $33.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 9.56 and a quick ratio of 8.83.

Alico (NASDAQ:ALCO) last released its earnings results on Monday, November 24th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.71). The firm had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $0.30 million. Alico had a negative net margin of 334.35% and a negative return on equity of 78.98%. Equities analysts anticipate that Alico, Inc. will post -0.37 earnings per share for the current fiscal year.

Alico Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, January 2nd. Alico’s dividend payout ratio (DPR) is -1.04%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALCO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alico in a report on Wednesday, October 8th. Roth Capital reissued a “buy” rating and set a $42.00 price objective on shares of Alico in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.00.

Alico Profile

Alico, Inc is an agribusiness and land management company headquartered in Fort Myers, Florida. The company owns and manages over 110,000 acres of land in southwestern Florida, with operations focused on citrus groves, sugarcane production, forestry and other row crops. Alico leverages its extensive land holdings to support integrated agricultural and environmental stewardship practices.

In its citrus division, Alico cultivates and markets fresh oranges for both the retail and processing markets, while its sugarcane segment supplies raw cane to domestic sugar mills.