New ownership and insider buying are giving this stock a lift.
Alico Corp. (ALCO)
from Positive Patterns
Most recent stats show that Alico Corp. (ALCO) owns somewhere around 130,000 acres of land in seven Southern Florida Counties.
There was just a good insider buy here (Delta Offshore) of 12,000 shares, and 734 Agriculture, a large “AG” player, controls this stock now. 734 Agriculture bought-out the Griffin dynasty/family that had long controlled the company, and now I believe the company will be run in a more efficient manner.
I think we should see some better earnings ahead, especially in 2016. Things in Florida are looking up on the real estate front, so I expect that will also help the company.
The chart looks promising, and if ALCO can break above $55, it would be a very good thing. The recent acquisition of Orange-Co (also from the Griffin family) will add more revenue and by 2016, I do believe, more earnings. I would buy this speculative stock up to $55 for a good 3- to 5-year trade.
Bob Howard, Positive Patterns, P.O. Box 310, Turners, MO 65765, 417-887-4486, May 19, 2015