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 purchased a new stake in Alico, Inc. (NASDAQ:ALCO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 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 holdings, making the stock its 21st largest position. Penn Mutual Asset Management owned 0.27% of Alico as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ALCO. GAMMA Investing LLC increased its stake in Alico by 8,107.1% during the first 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 last quarter. Covestor Ltd purchased a new position in shares of Alico during the 1st quarter worth $73,000. PNC Financial Services Group Inc. increased its position in shares of Alico by 21.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,591 shares of the company's stock worth $77,000 after purchasing an additional 464 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Alico by 21.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,177 shares of the company's stock valued at $134,000 after buying an additional 908 shares during the period. Finally, Deutsche Bank AG purchased a new stake in Alico in the 1st quarter valued at about $157,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Henry R. Slack sold 24,789 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were 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 in the company, valued at approximately $1,367,336.67. The trade was a 37.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.30% of the company's stock.

Alico Stock Up 2.3%

Alico stock traded up $0.77 during trading on Wednesday, reaching $33.86. The stock had a trading volume of 40,719 shares, compared to its average volume of 48,482. Alico, Inc. has a 52-week low of $24.23 and a 52-week high of $34.31. The business has a 50 day moving average price of $32.34 and a 200 day moving average price of $30.63. The stock has a market cap of $259.03 million, a PE ratio of -1.65 and a beta of 1.01. The company has a quick ratio of 8.87, a current ratio of 9.37 and a debt-to-equity ratio of 0.72.

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

Alico Announces Dividend

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

Analysts Set New Price Targets

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

Alico 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.