Alico (ALCO) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Alico (NASDAQ:ALCO) from a hold rating to a buy rating in a report released on Friday.

Separately, ValuEngine raised shares of Alico from a hold rating to a buy rating in a research report on Friday, October 19th.

Shares of ALCO opened at $33.47 on Friday. Alico has a 52 week low of $25.55 and a 52 week high of $34.65. The company has a quick ratio of 3.11, a current ratio of 5.02 and a debt-to-equity ratio of 0.97.

In other Alico news, insider George R. Brokaw sold 524,795 shares of Alico stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $34.00, for a total value of $17,843,030.00. Following the completion of the sale, the insider now directly owns 372,701 shares in the company, valued at $12,671,834. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 60.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ALCO. Schwab Charles Investment Management Inc. lifted its stake in Alico by 14.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 27,195 shares of the company’s stock valued at $863,000 after acquiring an additional 3,532 shares during the last quarter. BlackRock Inc. lifted its stake in Alico by 3.0% in the second quarter. BlackRock Inc. now owns 242,566 shares of the company’s stock valued at $7,690,000 after acquiring an additional 7,053 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Alico by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 341,266 shares of the company’s stock valued at $10,818,000 after acquiring an additional 12,004 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Alico by 6.0% in the second quarter. Renaissance Technologies LLC now owns 67,291 shares of the company’s stock valued at $2,133,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Towerview LLC lifted its stake in Alico by 25.2% in the third quarter. Towerview LLC now owns 82,541 shares of the company’s stock valued at $2,790,000 after acquiring an additional 16,628 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

About Alico

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates through three segments: Alico Citrus, Conservation and Environmental Resources, and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruits for sale to fresh and processed citrus markets; and contracting for the harvesting, marketing, and hauling of citrus.

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