Alico (NASDAQ:ALCO) Shares Cross Above 200 Day Moving Average – Time to Sell?

Alico, Inc. (NASDAQ:ALCO) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.52 and traded as high as $41.40. Alico shares last traded at $40.72, with a volume of 20,624 shares changing hands.

Analyst Ratings Changes

A number of research firms have weighed in on ALCO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alico in a report on Monday, April 20th. Freedom Capital cut shares of Alico from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Roth Mkm set a $45.00 price objective on shares of Alico and gave the company a “buy” rating in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of Alico from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

Alico Stock Down 0.6%

The stock has a market capitalization of $302.14 million, a price-to-earnings ratio of -16.55 and a beta of 0.93. The business’s 50-day moving average is $41.66 and its two-hundred day moving average is $39.52. The company has a quick ratio of 9.39, a current ratio of 9.63 and a debt-to-equity ratio of 0.80.

Alico Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, April 3rd were given a dividend of $0.05 per share. The ex-dividend date was Thursday, April 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. Alico’s payout ratio is presently -8.13%.

Hedge Funds Weigh In On Alico

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Oak Family Advisors LLC boosted its position in Alico by 6.3% during the first quarter. Oak Family Advisors LLC now owns 61,300 shares of the company’s stock worth $2,529,000 after acquiring an additional 3,645 shares during the last quarter. Hanson & Doremus Investment Management acquired a new position in Alico in the 1st quarter valued at about $43,000. Millennium Management LLC boosted its holdings in Alico by 73.2% in the 4th quarter. Millennium Management LLC now owns 20,677 shares of the company’s stock valued at $752,000 after purchasing an additional 8,736 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Alico by 5.4% in the 4th quarter. AQR Capital Management LLC now owns 12,416 shares of the company’s stock valued at $452,000 after purchasing an additional 640 shares during the last quarter. Finally, Trexquant Investment LP boosted its holdings in Alico by 6.5% in the 4th quarter. Trexquant Investment LP now owns 6,917 shares of the company’s stock valued at $252,000 after purchasing an additional 424 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

About Alico

Alico, Inc is an agribusiness and land management company headquartered in Fort Myers, Florida. The company owns and manages over 110,000 acres of land in southwestern Florida, with operations focused on citrus groves, sugarcane production, forestry and other row crops. Alico leverages its extensive land holdings to support integrated agricultural and environmental stewardship practices.

In its citrus division, Alico cultivates and markets fresh oranges for both the retail and processing markets, while its sugarcane segment supplies raw cane to domestic sugar mills.