Accordant Advisory Group Inc Purchases 19,057 Shares of Alico, Inc. (NASDAQ:ALCO)

Accordant Advisory Group Inc lifted its holdings in Alico, Inc. (NASDAQ:ALCO - Free Report) by 76.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,881 shares of the company's stock after purchasing an additional 19,057 shares during the quarter. Alico accounts for approximately 1.3% of Accordant Advisory Group Inc's investment portfolio, making the stock its 20th largest position. Accordant Advisory Group Inc owned 0.57% of Alico worth $1,309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new position in Alico during the fourth quarter worth $675,000. Wells Fargo & Company MN boosted its stake in Alico by 21.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,177 shares of the company's stock worth $134,000 after buying an additional 908 shares during the period. Empowered Funds LLC boosted its stake in Alico by 5.1% during the fourth quarter. Empowered Funds LLC now owns 16,607 shares of the company's stock worth $431,000 after buying an additional 810 shares during the period. Perritt Capital Management Inc boosted its stake in Alico by 66.7% during the fourth quarter. Perritt Capital Management Inc now owns 5,000 shares of the company's stock worth $130,000 after buying an additional 2,000 shares during the period. Finally, Bank of America Corp DE boosted its stake in Alico by 12.8% during the fourth quarter. Bank of America Corp DE now owns 18,224 shares of the company's stock worth $473,000 after buying an additional 2,067 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.

Alico Trading Up 1.0%

Shares of NASDAQ:ALCO traded up $0.32 on Thursday, hitting $31.54. 43,196 shares of the company's stock were exchanged, compared to its average volume of 39,650. Alico, Inc. has a 12 month low of $24.20 and a 12 month high of $34.08. The stock has a market capitalization of $241.03 million, a price-to-earnings ratio of -5.33 and a beta of 0.99. The business's 50 day simple moving average is $30.06 and its two-hundred day simple moving average is $29.24. 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 (NASDAQ:ALCO - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($10.98) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($10.62). Alico had a negative return on equity of 3.01% and a negative net margin of 91.09%. The business had revenue of $17.98 million for the quarter, compared to the consensus estimate of $22.20 million. Analysts anticipate that Alico, Inc. will post -0.37 EPS for the current fiscal year.

Alico Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.05 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. Alico's payout ratio is currently -1.09%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded 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.