Alico, Inc. (NASDAQ:ALCO) is Towerview LLC's 7th Largest Position

Key Points

• Towerview LLC has reduced its holdings in Alico, Inc. by 46.6%, now owning 115,000 shares, which represents about 2.5% of its investment portfolio.
• Recent analysis downgraded Alico's stock from a "hold" rating to a "strong sell" rating, indicating a negative outlook for investors.
• Alico reported a disappointing quarterly earnings result with an EPS of ($10.98), significantly missing the consensus estimate by $10.62 and generating revenues of $17.98 million.

Towerview LLC decreased its stake in Alico, Inc. (NASDAQ:ALCO - Free Report) by 46.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,000 shares of the company's stock after selling 100,303 shares during the quarter. Alico makes up 2.5% of Towerview LLC's holdings, making the stock its 7th largest position. Towerview LLC owned about 1.51% of Alico worth $3,432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ALCO. Peapod Lane Capital LLC lifted 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 valued at $3,904,000 after acquiring an additional 461 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in Alico by 6.8% during the first quarter. Transcend Capital Advisors LLC now owns 11,394 shares of the company's stock worth $340,000 after buying an additional 724 shares in the last quarter. Abundance Wealth Counselors lifted its position in Alico by 79.4% during the first quarter. Abundance Wealth Counselors now owns 19,776 shares of the company's stock worth $590,000 after buying an additional 8,755 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Alico during the first quarter worth approximately $3,232,000. Finally, Accordant Advisory Group Inc lifted its position in Alico by 76.8% during the first quarter. Accordant Advisory Group Inc now owns 43,881 shares of the company's stock worth $1,309,000 after buying an additional 19,057 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

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 Trading Up 0.1%

ALCO stock traded up $0.05 during midday trading on Monday, hitting $32.54. 3,936 shares of the company's stock were exchanged, compared to its average volume of 50,617. The business has a 50-day simple moving average of $32.00 and a two-hundred day simple moving average of $30.45. The company has a current ratio of 5.56, a quick ratio of 4.65 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $248.57 million, a PE ratio of -1.77 and a beta of 0.99. Alico, Inc. has a 1-year low of $24.23 and a 1-year high of $34.31.

Alico (NASDAQ:ALCO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($10.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($10.62). Alico had a negative net margin of 284.75% and a negative return on equity of 41.08%. The firm had revenue of $17.98 million during the quarter, compared to analyst estimates of $22.20 million. On average, sell-side analysts predict that Alico, Inc. will post -0.37 EPS for the current fiscal year.

Alico Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.05 dividend. The ex-dividend date was Friday, June 27th. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. Alico's dividend payout ratio (DPR) is presently -1.09%.

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.