Weiss Ratings Reiterates Sell (D) Rating for Alico (NASDAQ:ALCO)

Key Points

• Weiss Ratings has reaffirmed a "sell (d)" rating for Alico (NASDAQ:ALCO), reflecting ongoing concerns among analysts regarding the company's performance.
• Alico's recent quarterly earnings report revealed a substantial loss of $2.39 EPS, which was significantly below analysts' expectations, alongside a negative net margin of 355.13%.
• Several institutional investors have increased their stakes in Alico, with Gate City Capital Management growing its holding by 28.2% in the second quarter, indicating ongoing interest despite the company's struggles.

Alico (NASDAQ:ALCO - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Alico Stock Down 0.5%

Shares of NASDAQ:ALCO traded down $0.16 during trading on Wednesday, reaching $33.50. 8,617 shares of the stock traded hands, compared to its average volume of 43,802. The stock has a 50-day moving average of $33.47 and a two-hundred day moving average of $31.72. Alico has a 52-week low of $24.23 and a 52-week high of $35.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.87 and a current ratio of 9.37. The stock has a market cap of $256.28 million, a P/E ratio of -1.63 and a beta of 0.98.

Alico (NASDAQ:ALCO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($2.39) EPS for the quarter, missing analysts' consensus estimates of ($1.09) by ($1.30). Alico had a negative net margin of 355.13% and a negative return on equity of 58.27%. The firm had revenue of $8.39 million for the quarter, compared to analysts' expectations of $16.90 million. As a group, sell-side analysts expect that Alico will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Alico

In other Alico news, Director Henry R. Slack sold 3,548 shares of Alico stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $34.29, for a total value of $121,660.92. Following the sale, the director directly owned 35,188 shares in the company, valued at approximately $1,206,596.52. The trade was a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 31,250 shares of company stock valued at $1,036,157. Insiders own 8.30% of the company's stock.

Hedge Funds Weigh In On Alico

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Gate City Capital Management LLC grew its stake in shares of Alico by 28.2% in the 2nd quarter. Gate City Capital Management LLC now owns 1,126,553 shares of the company's stock worth $36,816,000 after buying an additional 248,136 shares in the last quarter. Peapod Lane Capital LLC boosted its stake in shares of Alico by 0.3% during the 2nd quarter. Peapod Lane Capital LLC now owns 131,265 shares of the company's stock worth $4,290,000 after purchasing an additional 434 shares during the period. Towerview LLC boosted its stake in shares of Alico by 8.7% during the 2nd quarter. Towerview LLC now owns 125,000 shares of the company's stock worth $4,085,000 after purchasing an additional 10,000 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Alico during the 1st quarter worth about $3,232,000. Finally, Accordant Advisory Group Inc boosted its stake in shares of Alico by 14.4% during the 2nd quarter. Accordant Advisory Group Inc now owns 50,202 shares of the company's stock worth $1,641,000 after purchasing an additional 6,321 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.

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.

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