Short Interest in Alico, Inc. (NASDAQ:ALCO) Drops By 9.4%

Alico, Inc. (NASDAQ:ALCO) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 211,100 shares, a drop of 9.4% from the November 15th total of 233,000 shares. Based on an average daily volume of 31,300 shares, the days-to-cover ratio is currently 6.7 days. Approximately 4.0% of the company’s stock are sold short.

Institutional Trading of Alico

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Alico by 57.0% in the 1st quarter. Vanguard Group Inc. now owns 160,913 shares of the company’s stock valued at $4,712,000 after buying an additional 58,428 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Alico by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 60,233 shares of the company’s stock worth $1,561,000 after purchasing an additional 846 shares in the last quarter. CM Management LLC lifted its holdings in shares of Alico by 4.7% in the 2nd quarter. CM Management LLC now owns 225,000 shares of the company’s stock valued at $5,830,000 after purchasing an additional 10,000 shares during the last quarter. Acuitas Investments LLC boosted its position in shares of Alico by 19.3% in the 2nd quarter. Acuitas Investments LLC now owns 88,513 shares of the company’s stock valued at $2,293,000 after purchasing an additional 14,291 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Alico by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 429,309 shares of the company’s stock worth $11,124,000 after buying an additional 8,306 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Alico to a “sell” rating in a report on Thursday, August 29th.

Alico Price Performance

ALCO stock opened at $25.87 on Friday. The business has a 50 day moving average price of $26.07 and a 200 day moving average price of $26.80. The company has a quick ratio of 0.99, a current ratio of 3.81 and a debt-to-equity ratio of 0.35. The stock has a market cap of $197.39 million, a price-to-earnings ratio of 28.12 and a beta of 0.80. Alico has a fifty-two week low of $24.14 and a fifty-two week high of $31.00.

About Alico

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.