Limoneira (NASDAQ:LMNR) CFO Sells 1,000 Shares of Stock

Limoneira Co (NASDAQ:LMNR) CFO Gregory Hamm sold 1,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $11.90, for a total value of $11,900.00. Following the completion of the transaction, the chief financial officer owned 84,812 shares of the company’s stock, valued at $1,009,262.80. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Limoneira Trading Up 0.6%

NASDAQ LMNR traded up $0.07 on Friday, hitting $11.99. 155,382 shares of the company were exchanged, compared to its average volume of 90,469. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.51 and a quick ratio of 1.44. Limoneira Co has a twelve month low of $11.66 and a twelve month high of $15.43. The firm has a market capitalization of $217.38 million, a P/E ratio of -5.02 and a beta of 0.34. The company’s 50 day moving average price is $13.46 and its 200-day moving average price is $13.20.

Limoneira (NASDAQ:LMNR) last released its earnings results on Wednesday, September 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.17). The firm had revenue of $43.81 million during the quarter, compared to analysts’ expectations of $49.62 million. Limoneira had a negative return on equity of 13.91% and a negative net margin of 33.03%. Analysts predict that Limoneira Co will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Limoneira

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMNR. BlackRock Inc. acquired a new stake in shares of Limoneira during the 2nd quarter valued at $15,065,000. First Wilshire Securities Management Inc. increased its stake in shares of Limoneira by 122.2% in the first quarter. First Wilshire Securities Management Inc. now owns 578,059 shares of the company’s stock worth $7,758,000 after acquiring an additional 317,872 shares during the last quarter. SFE Investment Counsel acquired a new position in shares of Limoneira in the second quarter worth $788,000. Bank of New York Mellon Corp purchased a new stake in shares of Limoneira during the second quarter worth $659,000. Finally, Flax Pond Capital LLC purchased a new stake in shares of Limoneira during the fourth quarter worth $2,145,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LMNR shares. Weiss Ratings lowered Limoneira from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. Lake Street Capital dropped their price target on Limoneira from $18.00 to $16.50 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Wall Street Zen raised Limoneira from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Finally, HC Wainwright lowered Limoneira to a “buy” rating in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.50.

Limoneira Company Profile

Limoneira Company (NASDAQ:LMNR) is an agribusiness company that grows, packages, markets and distributes fresh citrus and avocados. Its primary products include lemons, avocados, oranges and other specialty citrus, which are sold to retailers, foodservice operators, wholesalers and other commercial customers.

Founded in 1893 and headquartered in Santa Paula, California, Limoneira manages agricultural land and orchards in California and Arizona, as well as international growing operations in Chile.