Ellsworth Advisors LLC Buys Shares of 22,028 Alico, Inc. $ALCO

Key Points

• Ellsworth Advisors LLC acquired 22,028 shares of Alico, Inc. valued at approximately $657,000, representing 0.29% ownership of the company.
• Alico posted a quarterly earnings loss of ($2.39) per share, missing analysts' expectations of ($1.09), with revenues significantly below projections.
• Insider transactions revealed that Director Henry R. Slack sold 3,548 shares, reducing his stake by 9.16% and indicating increased selling pressure from insiders.

Ellsworth Advisors LLC bought a new position in Alico, Inc. (NASDAQ:ALCO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 22,028 shares of the company's stock, valued at approximately $657,000. Ellsworth Advisors LLC owned 0.29% of Alico as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Peapod Lane Capital LLC raised its position in shares of Alico by 0.4% in the first quarter. Peapod Lane Capital LLC now owns 130,831 shares of the company's stock worth $3,904,000 after buying an additional 461 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Alico in the 1st quarter worth $3,232,000. Accordant Advisory Group Inc raised its position in 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 during the period. Russell Investments Group Ltd. grew its holdings in Alico by 4,016.2% in the 1st quarter. Russell Investments Group Ltd. now owns 29,513 shares of the company's stock worth $881,000 after acquiring an additional 28,796 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Alico in the 4th quarter worth $675,000. Institutional investors own 62.28% of the company's stock.

Insider Buying and Selling at Alico

In other news, Director Henry R. Slack sold 24,789 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $32.83, for a total value of $813,822.87. Following the completion of the transaction, the director owned 41,649 shares in the company, valued at $1,367,336.67. The trade was a 37.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 31,250 shares of company stock valued at $1,036,157 in the last three months. 8.30% of the stock is owned by insiders.

Alico Stock Up 0.9%

Shares of NASDAQ ALCO traded up $0.30 during trading on Wednesday, reaching $34.20. The company had a trading volume of 3,387 shares, compared to its average volume of 45,577. Alico, Inc. has a 12-month low of $24.23 and a 12-month high of $35.01. The stock has a market cap of $261.59 million, a PE ratio of -1.67 and a beta of 1.01. The business's 50-day moving average is $33.11 and its 200 day moving average is $31.20. 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 posted its quarterly earnings results on Tuesday, August 12th. The company reported ($2.39) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $8.39 million during the quarter, compared to analysts' expectations of $16.90 million. As a group, equities analysts forecast that Alico, Inc. will post -0.37 earnings per share for the current fiscal year.

Alico Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.05 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. Alico's payout ratio is currently -0.97%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered 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.