Penn Mutual Asset Management Makes New Investment in Alico, Inc. $ALCO

Key Points

• Penn Mutual Asset Management has acquired 21,000 shares of Alico, Inc. (NASDAQ:ALCO), valued at approximately $627,000, making the stock 1.2% of its portfolio.
• Alico recently reported a significant earnings miss, with a quarterly loss of ($2.39) per share, compared to the analysts' expected ($1.09).
• Wall Street analysts have downgraded Alico from a "hold" rating to a "strong sell," reflecting negative sentiment about the company's performance and outlook.

Penn Mutual Asset Management acquired a new position in shares of Alico, Inc. (NASDAQ:ALCO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,000 shares of the company's stock, valued at approximately $627,000. Alico accounts for approximately 1.2% of Penn Mutual Asset Management's portfolio, making the stock its 21st biggest holding. Penn Mutual Asset Management owned 0.27% of Alico at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Monaco Asset Management SAM acquired a new stake in Alico during the 1st quarter worth about $657,000. GAMMA Investing LLC boosted its position in Alico by 8,107.1% during the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the company's stock worth $69,000 after acquiring an additional 2,270 shares during the period. Bank of America Corp DE boosted its position in Alico by 12.8% during the 4th quarter. Bank of America Corp DE now owns 18,224 shares of the company's stock worth $473,000 after acquiring an additional 2,067 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Alico during the 4th quarter worth about $675,000. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in shares of Alico during the 1st quarter worth about $597,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Alico Stock Performance

Alico stock traded up $0.0850 during trading hours on Friday, reaching $34.1650. 17,382 shares of the company were exchanged, compared to its average volume of 48,215. The firm has a market cap of $261.36 million, a price-to-earnings ratio of -1.66 and a beta of 1.01. The company has a current ratio of 9.37, a quick ratio of 8.87 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average of $32.45 and a 200 day moving average of $30.68. Alico, Inc. has a 12 month low of $24.23 and a 12 month high of $34.67.

Alico (NASDAQ:ALCO - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($2.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.09) by ($1.30). The company had revenue of $8.39 million for the quarter, compared to the consensus estimate of $16.90 million. Alico had a negative return on equity of 58.27% and a negative net margin of 355.13%. As a group, research analysts anticipate that Alico, Inc. will post -0.37 earnings per share for the current year.

Alico Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Alico's dividend payout ratio is presently -0.97%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Alico

In other Alico news, Director Henry R. Slack sold 24,789 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $32.83, for a total transaction of $813,822.87. Following the completion of the sale, the director owned 41,649 shares of the company's stock, valued at $1,367,336.67. This represents a 37.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is owned by insiders.

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.