Accordant Advisory Group Inc Raises Holdings in Alico, Inc. (NASDAQ:ALCO)

Accordant Advisory Group Inc raised its stake in shares of Alico, Inc. (NASDAQ:ALCO - Free Report) by 76.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,881 shares of the company's stock after acquiring an additional 19,057 shares during the period. Alico makes up 1.3% of Accordant Advisory Group Inc's investment portfolio, making the stock its 20th biggest holding. Accordant Advisory Group Inc owned 0.57% of Alico worth $1,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALCO. Pacific Ridge Capital Partners LLC increased its position in Alico by 39.2% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 310,977 shares of the company's stock worth $8,064,000 after purchasing an additional 87,521 shares during the period. JCP Investment Management LLC grew 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 acquiring an additional 30,000 shares during the period. Peapod Lane Capital LLC acquired a new stake in shares of Alico in the 4th quarter worth approximately $3,380,000. Bard Associates Inc. grew its holdings in shares of Alico by 6.8% in the 4th quarter. Bard Associates Inc. now owns 58,429 shares of the company's stock worth $1,518,000 after acquiring an additional 3,745 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Alico by 125.8% during the 4th quarter. JPMorgan Chase & Co. now owns 29,670 shares of the company's stock valued at $769,000 after buying an additional 16,530 shares during the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Alico Price Performance

NASDAQ:ALCO traded down $0.28 during trading hours on Friday, reaching $31.26. 36,541 shares of the company traded hands, compared to its average volume of 39,852. The firm's 50-day moving average is $30.11 and its 200-day moving average is $29.30. The stock has a market cap of $238.89 million, a P/E ratio of -5.28 and a beta of 0.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.84 and a quick ratio of 2.37. Alico, Inc. has a 1-year low of $24.20 and a 1-year high of $34.08.

Alico (NASDAQ:ALCO - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($10.98) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($10.62). The company had revenue of $17.98 million for the quarter, compared to analyst estimates of $22.20 million. Alico had a negative net margin of 91.09% and a negative return on equity of 3.01%. Equities research analysts expect that Alico, Inc. will post -0.37 earnings per share for the current fiscal year.

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.