Transcend Capital Advisors LLC Raises Position in Alico, Inc. (NASDAQ:ALCO)

Transcend Capital Advisors LLC increased its position in shares of Alico, Inc. (NASDAQ:ALCO) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,267 shares of the company’s stock after purchasing an additional 640 shares during the period. Transcend Capital Advisors LLC owned approximately 0.12% of Alico worth $240,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ALCO. Gate City Capital Management LLC acquired a new stake in shares of Alico in the 4th quarter valued at approximately $20,583,000. Redmont Wealth Advisors LLC lifted its holdings in Alico by 22.2% in the fourth quarter. Redmont Wealth Advisors LLC now owns 27,809 shares of the company’s stock valued at $809,000 after acquiring an additional 5,056 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Alico during the 4th quarter worth $120,000. Harbor Advisors LLC acquired a new position in shares of Alico during the 4th quarter worth $224,000. Finally, Towerview LLC lifted its stake in shares of Alico by 8.0% in the fourth quarter. Towerview LLC now owns 215,303 shares of the company’s stock valued at $6,261,000 after purchasing an additional 15,981 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Alico from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th.

Alico Price Performance

Alico stock traded down $1.11 during trading hours on Monday, hitting $27.50. The stock had a trading volume of 22,588 shares, compared to its average volume of 26,093. The stock has a market capitalization of $209.55 million, a price-to-earnings ratio of 5.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.55 and a quick ratio of 1.08. Alico, Inc. has a 1-year low of $23.22 and a 1-year high of $31.00. The stock’s fifty day moving average is $26.24 and its two-hundred day moving average is $27.51.

Alico (NASDAQ:ALCO) last announced its earnings results on Monday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.40. Alico had a net margin of 99.63% and a negative return on equity of 8.22%. The company had revenue of $18.11 million during the quarter, compared to analysts’ expectations of $40.60 million. As a group, analysts predict that Alico, Inc. will post -5.6 earnings per share for the current fiscal year.

Alico Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.73%. Alico’s dividend payout ratio is currently 3.81%.

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.