Alico (ALCO) Getting Somewhat Favorable News Coverage, Accern Reports
Press coverage about Alico (NASDAQ:ALCO) has trended somewhat positive this week, according to Accern. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Alico earned a news impact score of 0.16 on Accern’s scale. Accern also assigned media coverage about the company an impact score of 45.7942132071322 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Shares of Alico (NASDAQ ALCO) opened at 32.90 on Thursday. The firm has a market cap of $271.52 million, a PE ratio of 44.34 and a beta of 1.30. The company has a 50-day moving average of $31.40 and a 200 day moving average of $29.62. Alico has a one year low of $25.01 and a one year high of $33.20.
Alico declared that its board has authorized a share buyback program on Thursday, May 25th that authorizes the company to repurchase $2.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 0.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Separately, BidaskClub lowered shares of Alico from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th.
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In related news, Director Joseph Sambuco purchased 1,972 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was purchased at an average price of $30.50 per share, for a total transaction of $60,146.00. Following the acquisition, the director now directly owns 2,409 shares in the company, valued at $73,474.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 62.70% of the stock is owned by corporate insiders.
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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