Perritt Capital Management Inc Increases Holdings in Alico, Inc. (NASDAQ:ALCO)

Perritt Capital Management Inc raised its stake in Alico, Inc. (NASDAQ:ALCO) by 66.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Perritt Capital Management Inc owned about 0.07% of Alico worth $130,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ALCO. Harbor Advisors LLC acquired a new stake in shares of Alico in the third quarter valued at about $215,000. Barclays PLC grew its position 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 in the last quarter. Transcend Capital Advisors LLC raised its stake in shares of Alico by 6.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 10,670 shares of the company’s stock valued at $277,000 after purchasing an additional 684 shares during the period. Abundance Wealth Counselors purchased a new stake in shares of Alico during the fourth quarter valued at approximately $286,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Alico by 50.9% during the third quarter. JPMorgan Chase & Co. now owns 13,140 shares of the company’s stock worth $368,000 after purchasing an additional 4,432 shares in the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Alico Trading Down 1.5 %

Shares of ALCO opened at $29.38 on Wednesday. Alico, Inc. has a one year low of $24.14 and a one year high of $34.08. The stock has a 50-day moving average price of $29.66 and a 200 day moving average price of $27.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.37 and a current ratio of 4.84. The company has a market capitalization of $224.40 million, a P/E ratio of -4.96 and a beta of 0.81.

Alico (NASDAQ:ALCO) last released its earnings results on Wednesday, February 12th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate 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 forecast that Alico, Inc. will post -0.37 EPS for the current fiscal year.

Alico Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, March 28th. Alico’s payout ratio is currently -3.38%.

Alico 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.