Alico, Inc. (NASDAQ:ALCO) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. cut its position in shares of Alico, Inc. (NASDAQ:ALCO - Free Report) by 58.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,574 shares of the company's stock after selling 73,974 shares during the period. Polar Asset Management Partners Inc. owned about 0.68% of Alico worth $1,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Harbor Advisors LLC bought a new stake in shares of Alico in the 3rd quarter valued at about $215,000. Empowered Funds LLC raised its stake in shares of Alico by 5.4% in the third quarter. Empowered Funds LLC now owns 15,797 shares of the company's stock worth $442,000 after purchasing an additional 804 shares during the last quarter. Accordant Advisory Group Inc lifted its holdings in shares of Alico by 23.0% during the second quarter. Accordant Advisory Group Inc now owns 16,481 shares of the company's stock worth $427,000 after purchasing an additional 3,087 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Alico by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,185 shares of the company's stock valued at $537,000 after buying an additional 700 shares during the last quarter. Finally, Bard Associates Inc. increased its holdings in Alico by 1.5% in the 3rd quarter. Bard Associates Inc. now owns 54,684 shares of the company's stock worth $1,532,000 after buying an additional 806 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Alico Stock Up 0.7 %

Shares of NASDAQ:ALCO traded up $0.20 during trading on Friday, hitting $27.80. The company's stock had a trading volume of 64,733 shares, compared to its average volume of 27,176. Alico, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $31.00. The business has a 50 day moving average price of $26.18 and a two-hundred day moving average price of $26.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.90 and a current ratio of 3.81. The company has a market capitalization of $212.11 million, a PE ratio of 30.00 and a beta of 0.80.

Alico Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, September 27th. Alico's dividend payout ratio is presently 21.74%.

Analyst Upgrades and Downgrades

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

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.