Neither the company nor the 58-year-old CEO provided details in a statement issued after the close of markets Friday, when shares closed down 27 cents at $26.63. Griffin is a prominent Florida landowner, citrus grove owner and real estate developer.
Shares in the La Belle-based agribusiness and land-holding company closed up 5.18% Monday at $28.01 on volume of 37,000, just $1.21 off the 52-week high of $29.22. Shares have traded as low as $14.11 over the same time period.
This is the second time in less than a month that the value of Alico common shares has increased noticeably during one-day trading.
Just as the markets opened on Monday, May 14, investors quickly grabbed about 60,000 shares, which pushed up the price per share by $7.73. By the time trading ceased that day, the company's stock closed up $4.25 at $22.80 on volume of 595,200.
Company officials attributed the May 14 price increase to an article published in the Barron's financial journal, which examined the company's land divestitures.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
