Short Interest in Alico, Inc. (NASDAQ:ALCO) Increases By 16.7%

Alico, Inc. (NASDAQ:ALCO) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 297,200 shares, an increase of 16.7% from the September 15th total of 254,600 shares. Currently, 5.6% of the shares of the stock are sold short. Based on an average trading volume of 25,500 shares, the days-to-cover ratio is currently 11.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC bought a new position in shares of Alico in the first quarter worth about $99,000. BNP Paribas Financial Markets increased its holdings in shares of Alico by 80.1% in the first 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 in the last quarter. Quadrature Capital Ltd bought a new position in Alico in the 1st quarter worth approximately $217,000. Transcend Capital Advisors LLC lifted its holdings in Alico by 7.4% during the 2nd quarter. Transcend Capital Advisors LLC now owns 9,267 shares of the company’s stock worth $240,000 after buying an additional 640 shares in the last quarter. Finally, Empowered Funds LLC boosted its position 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 last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Alico Stock Performance

NASDAQ ALCO opened at $26.01 on Wednesday. Alico has a 1-year low of $23.55 and a 1-year high of $31.00. The company has a 50 day moving average of $27.89 and a 200-day moving average of $27.28. The company has a current ratio of 2.67, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The firm has a market cap of $198.30 million, a price-to-earnings ratio of 4.95 and a beta of 0.77.

Alico (NASDAQ:ALCO) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). Alico had a net margin of 56.13% and a negative return on equity of 6.72%. The business had revenue of $13.61 million for the quarter, compared to analyst estimates of $17.80 million. On average, equities analysts forecast that Alico will post -5.6 earnings per share for the current fiscal year.

Alico Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.05 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. Alico’s dividend payout ratio is 3.81%.

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.