Insider Selling: Alico (NASDAQ:ALCO) Director Sells 24,789 Shares of Stock

Key Points

• Henry Slack, a director of Alico, Inc. (NASDAQ:ALCO), sold 24,789 shares of the company's stock at an average price of $32.83, totaling approximately $813,823, which reduced his ownership by 37.31%.
• Alico reported a significant financial miss, with earnings per share at ($2.39), missing estimates by $1.30, and revenues of $8.39 million compared to expected $16.90 million.
• The company declared a quarterly dividend of $0.05 per share, representing a nominal annualized dividend yield of 0.6%, despite a current negative payout ratio of -0.97%.

Alico, Inc. (NASDAQ:ALCO - Get Free Report) Director Henry Slack sold 24,789 shares of Alico stock in a transaction on Friday, August 15th. The shares were sold at an average price of $32.83, for a total value of $813,822.87. Following the sale, the director directly owned 41,649 shares of the company's stock, valued at approximately $1,367,336.67. The trade was a 37.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Alico Stock Up 0.3%

ALCO traded up $0.09 during trading on Tuesday, reaching $33.09. 15,841 shares of the stock traded hands, compared to its average volume of 48,531. The stock has a market cap of $253.14 million, a price-to-earnings ratio of -1.61 and a beta of 1.01. Alico, Inc. has a fifty-two week low of $24.23 and a fifty-two week high of $34.31. The company has a debt-to-equity ratio of 0.72, a current ratio of 9.37 and a quick ratio of 8.87. The stock's 50-day simple moving average is $32.31 and its two-hundred day simple moving average is $30.61.

Alico (NASDAQ:ALCO - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($2.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.09) by ($1.30). The firm had revenue of $8.39 million for the quarter, compared to analyst estimates of $16.90 million. Alico had a negative net margin of 355.13% and a negative return on equity of 58.27%. As a group, equities research analysts expect 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 given a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. Alico's payout ratio is currently -0.97%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Alico

Several large investors have recently modified their holdings of the stock. Monaco Asset Management SAM bought a new stake in Alico during the 1st quarter worth approximately $657,000. GAMMA Investing LLC boosted its position in Alico by 8,107.1% in the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the company's stock valued at $69,000 after buying an additional 2,270 shares during the last quarter. Bank of America Corp DE boosted its position in Alico by 12.8% in the 4th quarter. Bank of America Corp DE now owns 18,224 shares of the company's stock valued at $473,000 after buying an additional 2,067 shares during the last quarter. Squarepoint Ops LLC bought a new position in Alico in the 4th quarter valued at $675,000. Finally, Prescott Group Capital Management L.L.C. bought a new position in Alico in the 1st quarter valued at $597,000. 62.28% of the stock is currently owned by institutional investors.

About Alico

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.

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