Alico, Inc. (NASDAQ:ALCO) Sees Large Drop in Short Interest

Alico, Inc. (NASDAQ:ALCO) was the target of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 108,593 shares, a decrease of 13.6% from the January 15th total of 125,673 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily volume of 22,424 shares, the days-to-cover ratio is currently 4.8 days. Based on an average daily volume of 22,424 shares, the days-to-cover ratio is currently 4.8 days. Approximately 1.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALCO. Roth Mkm reissued a “buy” rating and issued a $42.00 price target on shares of Alico in a report on Wednesday, November 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Alico in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.00.

Alico Price Performance

Shares of Alico stock opened at $40.82 on Tuesday. The stock has a market capitalization of $312.68 million, a price-to-earnings ratio of -2.20 and a beta of 1.02. The firm’s 50-day moving average price is $38.60 and its two-hundred day moving average price is $35.50. The company has a current ratio of 14.39, a quick ratio of 13.02 and a debt-to-equity ratio of 0.82. Alico has a 1-year low of $27.02 and a 1-year high of $43.20.

Alico (NASDAQ:ALCO) last announced its earnings results on Wednesday, February 4th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.92). The business had revenue of $1.89 million during the quarter, compared to analyst estimates of $3.22 million. Alico had a negative return on equity of 101.66% and a negative net margin of 487.45%. On average, equities analysts predict that Alico will post -0.37 earnings per share for the current fiscal year.

Alico Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, January 2nd. Alico’s payout ratio is currently -1.08%.

Institutional Investors Weigh In On Alico

A number of hedge funds have recently added to or reduced their stakes in the stock. Gate City Capital Management LLC raised its stake in shares of Alico by 28.2% in the second quarter. Gate City Capital Management LLC now owns 1,126,553 shares of the company’s stock worth $36,816,000 after acquiring an additional 248,136 shares during the last quarter. Accordant Advisory Group Inc increased its holdings in shares of Alico by 39.4% in the fourth quarter. Accordant Advisory Group Inc now owns 94,411 shares of the company’s stock valued at $3,435,000 after purchasing an additional 26,688 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Alico in the fourth quarter valued at approximately $796,000. Redmont Wealth Advisors LLC bought a new position in Alico in the 3rd quarter worth approximately $648,000. Finally, Jane Street Group LLC acquired a new position in Alico during the 2nd quarter worth $439,000. Institutional investors own 62.28% of the company’s stock.

Alico Company 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.