First Wilshire Securities Management Inc. Buys 317,872 Shares of Limoneira Co $LMNR

Key Points

• First Wilshire Securities Management increased its Limoneira stake by 122.2% in the first quarter, adding 317,872 shares and bringing its total holdings to 578,059 shares worth about $7.76 million.
• Other institutional investors also raised positions in Limoneira, and about 64.35% of the stock is now owned by institutions, indicating heavy professional ownership.
• Analysts are mixed on the stock: the consensus rating is Hold with an average target price of $18.00, while the shares recently traded around $13.11 after Limoneira reported a wider-than-expected quarterly loss.

First Wilshire Securities Management Inc. boosted its stake in shares of Limoneira Co (NASDAQ:LMNR - Free Report) by 122.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,059 shares of the company's stock after acquiring an additional 317,872 shares during the quarter. Limoneira accounts for 1.7% of First Wilshire Securities Management Inc.'s portfolio, making the stock its 19th largest position. First Wilshire Securities Management Inc. owned about 3.19% of Limoneira worth $7,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Flax Pond Capital LLC bought a new position in Limoneira during the 4th quarter valued at about $2,145,000. Peapod Lane Capital LLC boosted its holdings in shares of Limoneira by 44.5% in the 4th quarter. Peapod Lane Capital LLC now owns 208,547 shares of the company's stock worth $2,633,000 after acquiring an additional 64,178 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Limoneira by 515.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 74,124 shares of the company's stock worth $1,160,000 after acquiring an additional 62,080 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Limoneira by 248.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 44,238 shares of the company's stock valued at $692,000 after purchasing an additional 31,552 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Limoneira by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 397,720 shares of the company's stock valued at $6,226,000 after purchasing an additional 20,913 shares during the last quarter. 64.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LMNR shares. HC Wainwright downgraded shares of Limoneira to a "buy" rating in a research note on Wednesday, June 10th. Lake Street Capital lowered their price target on shares of Limoneira from $19.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, June 10th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Limoneira in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Limoneira has an average rating of "Hold" and a consensus target price of $18.00.

Limoneira Trading Down 1.3%

Shares of NASDAQ LMNR opened at $13.11 on Wednesday. Limoneira Co has a twelve month low of $11.66 and a twelve month high of $16.62. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.61. The stock has a market cap of $237.68 million, a price-to-earnings ratio of -5.75 and a beta of 0.30. The company's fifty day moving average is $13.04 and its 200-day moving average is $13.40.

Limoneira (NASDAQ:LMNR - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.08). Limoneira had a negative return on equity of 13.94% and a negative net margin of 30.50%.The business had revenue of $23.93 million for the quarter, compared to analyst estimates of $21.42 million. Equities research analysts predict that Limoneira Co will post -0.47 EPS for the current year.

Limoneira Company Profile

Limoneira Company NASDAQ: LMNR, founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company's vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.

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