Alico, Inc. (NASDAQ:ALCO) Shares Purchased by Perritt Capital Management Inc

Perritt Capital Management Inc raised its holdings in shares of Alico, Inc. (NASDAQ:ALCO) by 66.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Perritt Capital Management Inc’s holdings in Alico were worth $130,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harbor Advisors LLC acquired a new position in shares of Alico in the 3rd quarter valued at about $215,000. Barclays PLC boosted its stake in Alico by 229.2% in the third quarter. Barclays PLC now owns 9,336 shares of the company’s stock valued at $261,000 after acquiring an additional 6,500 shares during the period. Transcend Capital Advisors LLC boosted its stake in Alico by 6.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,670 shares of the company’s stock valued at $277,000 after acquiring an additional 684 shares during the period. Abundance Wealth Counselors bought a new position in shares of Alico during the fourth quarter valued at approximately $286,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Alico by 50.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,140 shares of the company’s stock worth $368,000 after purchasing an additional 4,432 shares during the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Alico to a “sell” rating in a research note on Friday, February 14th.

Alico Trading Down 1.5 %

Alico stock opened at $29.38 on Wednesday. Alico, Inc. has a 52-week low of $24.14 and a 52-week high of $34.08. The company has a quick ratio of 2.37, a current ratio of 4.84 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $224.40 million, a price-to-earnings ratio of -4.96 and a beta of 0.81. The firm has a 50-day moving average price of $29.66 and a two-hundred day moving average price of $27.95.

Alico (NASDAQ:ALCO) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.27). Alico had a negative net margin of 91.09% and a negative return on equity of 3.01%. Sell-side analysts expect that Alico, Inc. will post -0.37 earnings per share for the current year.

Alico Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. Alico’s dividend payout ratio (DPR) is presently -3.38%.

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.