Alico, Inc. (NASDAQ:ALCO) Short Interest Down 19.2% in October

Alico, Inc. (NASDAQ:ALCO) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 240,400 shares, a decrease of 19.2% from the October 15th total of 297,600 shares. Based on an average trading volume of 27,000 shares, the days-to-cover ratio is currently 8.9 days. Approximately 4.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

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

Alico Trading Down 1.7 %

NASDAQ ALCO opened at $25.34 on Friday. The firm has a market capitalization of $193.09 million, a PE ratio of 7.41 and a beta of 0.79. The business’s 50-day moving average price is $26.76 and its two-hundred day moving average price is $26.92. The company has a current ratio of 2.67, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. Alico has a 12 month low of $24.14 and a 12 month high of $31.00.

Alico Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, September 27th. Alico’s payout ratio is presently 5.85%.

Analyst Upgrades and Downgrades

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

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.