Alico (NASDAQ:ALCO) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Alico, Inc. shares have recently crossed above their 200-day moving average, trading as high as $32.78, with the current price at $32.53.
• Wall Street Zen has downgraded Alico from a "hold" rating to a "strong sell" rating following disappointing earnings results, where the company reported a loss of ($10.98) per share.
• Alico announced a quarterly dividend of $0.05 per share, representing an annualized yield of 0.62%, although its dividend payout ratio is currently negative at -1.09%.

Alico, Inc. (NASDAQ:ALCO - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $30.43 and traded as high as $32.78. Alico shares last traded at $32.53, with a volume of 15,659 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Alico from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd.

Alico Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.65 and a current ratio of 5.56. The business's 50 day simple moving average is $32.00 and its 200-day simple moving average is $30.45. The stock has a market capitalization of $248.34 million, a price-to-earnings ratio of -1.76 and a beta of 0.99.

Alico (NASDAQ:ALCO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($10.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($10.62). The company had revenue of $17.98 million during the quarter, compared to analyst estimates of $22.20 million. Alico had a negative return on equity of 41.08% and a negative net margin of 284.75%. Research analysts anticipate that Alico, Inc. will post -0.37 earnings per share for the current year.

Alico Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, June 27th. Alico's dividend payout ratio is currently -1.09%.

Institutional Trading of Alico

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JCP Investment Management LLC raised its holdings in shares of Alico by 16.0% in the 4th quarter. JCP Investment Management LLC now owns 217,091 shares of the company's stock worth $5,633,000 after purchasing an additional 30,000 shares in the last quarter. Peapod Lane Capital LLC raised its holdings in shares of Alico by 0.4% in the 1st quarter. Peapod Lane Capital LLC now owns 130,831 shares of the company's stock worth $3,904,000 after purchasing an additional 461 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Alico in the 1st quarter worth approximately $3,232,000. Oak Family Advisors LLC bought a new stake in shares of Alico in the 2nd quarter worth approximately $1,531,000. Finally, Accordant Advisory Group Inc raised its holdings in shares of Alico by 76.8% in the 1st quarter. Accordant Advisory Group Inc now owns 43,881 shares of the company's stock worth $1,309,000 after purchasing an additional 19,057 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

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.