Alico (NASDAQ:ALCO) Director Acquires $49,662.50 in Stock

Key Points

• Alico Director Eric Speron bought 1,250 shares at an average price of $39.73, a $49,662.50 transaction that more than doubled his direct ownership to 2,310 shares.
• Alico shares rose 2.1% to $40.31, while the company reported quarterly EPS of $0.29, beating consensus estimates by $1.03, and revenue of $9.04 million versus expectations of $2.75 million.
• The company maintains a $0.05 quarterly dividend, equal to a $0.20 annualized payout and a 0.5% yield; analysts’ consensus rating is “Buy,” with a $45 price target.

Alico, Inc. (NASDAQ:ALCO - Get Free Report) Director Eric Speron acquired 1,250 shares of Alico stock in a transaction dated Thursday, August 20th. The shares were acquired at an average price of $39.73 per share, with a total value of $49,662.50. Following the completion of the acquisition, the director directly owned 2,310 shares of the company's stock, valued at approximately $91,776.30. The trade was a 117.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Alico Stock Up 2.1%

Shares of NASDAQ ALCO traded up $0.81 during trading on Friday, hitting $40.31. The stock had a trading volume of 17,054 shares, compared to its average volume of 24,544. The firm has a fifty day moving average of $40.12 and a two-hundred day moving average of $40.71. The company has a market capitalization of $299.10 million, a PE ratio of 183.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 7.96 and a quick ratio of 7.93. Alico, Inc. has a 12 month low of $31.32 and a 12 month high of $45.01.

Alico (NASDAQ:ALCO - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $1.03. The firm had revenue of $9.04 million during the quarter, compared to analyst estimates of $2.75 million. Alico had a negative return on equity of 20.77% and a net margin of 8.98%. As a group, equities research analysts forecast that Alico, Inc. will post -3.52 EPS for the current fiscal year.

Alico Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, July 2nd. Alico's dividend payout ratio (DPR) is presently 90.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALCO. Rhumbline Advisers grew its holdings in shares of Alico by 45.2% in the 2nd quarter. Rhumbline Advisers now owns 15,598 shares of the company's stock worth $510,000 after acquiring an additional 4,859 shares during the period. American Century Companies Inc. purchased a new stake in Alico during the 2nd quarter worth $332,000. Raymond James Financial Inc. acquired a new position in shares of Alico in the 2nd quarter valued at approximately $28,000. Jane Street Group LLC acquired a new stake in shares of Alico during the 2nd quarter valued at approximately $439,000. Finally, Tower Research Capital LLC TRC raised 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 worth $107,000 after purchasing an additional 2,917 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen raised Alico from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings raised Alico from a "sell (d)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, Freedom Capital raised shares of Alico from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $45.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source