Alico, Inc. (NASDAQ:ALCO) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Shares of Alico (ALCO) traded down 0.32% during trading on Friday, hitting $30.95. The stock had a trading volume of 2,366 shares. The stock’s 50 day moving average is $31.06 and its 200 day moving average is $28.94. The stock has a market capitalization of $255.43 million, a price-to-earnings ratio of 41.71 and a beta of 1.33. Alico has a 52 week low of $25.01 and a 52 week high of $33.20.

Alico announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 25th that allows the company to buyback $2.00 million in shares. This buyback authorization allows the company to reacquire up to 0.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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In other Alico news, Director Joseph Sambuco bought 2,404 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was bought at an average price of $30.45 per share, for a total transaction of $73,201.80. Following the transaction, the director now owns 108 shares of the company’s stock, valued at approximately $3,288.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 62.70% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Alico by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 288,827 shares of the company’s stock valued at $9,040,000 after buying an additional 17,540 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Alico by 11.6% in the second quarter. Northern Trust Corp now owns 47,156 shares of the company’s stock valued at $1,476,000 after buying an additional 4,893 shares during the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. acquired a new stake in shares of Alico during the second quarter valued at approximately $204,000. SG Americas Securities LLC boosted its stake in shares of Alico by 8.6% in the second quarter. SG Americas Securities LLC now owns 10,710 shares of the company’s stock valued at $335,000 after buying an additional 845 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Alico by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 12,562 shares of the company’s stock valued at $394,000 after buying an additional 57 shares during the last quarter. Institutional investors own 72.87% of the company’s stock.

Alico Company Profile

Alico, Inc is an agribusiness and natural resources management company. The Company’s segments include Orange Co, Conservation and Environmental Resources and, Other Operations. Its principal lines of business are citrus groves, cattle ranching and conservation. The Orange Co segment includes activities related to planting, owning, cultivating and/or managing citrus groves in order 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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