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

Key Points

• CFO Gregory Hamm sold 1,000 Limoneira shares for $10,710 at an average price of $10.71 under a pre-arranged Rule 10b5-1 plan. He retained 83,812 shares after the sale.
• Limoneira shares fell 5.5% to $10.06, near their 12-month low of $10.05.
• The company missed quarterly earnings and revenue estimates; analysts’ consensus rating is “Hold,” with a $16.50 price target.

Limoneira Co (NASDAQ:LMNR - Get Free Report) CFO Gregory Hamm sold 1,000 shares of the business's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $10.71, for a total value of $10,710.00. Following the completion of the sale, the chief financial officer owned 83,812 shares in the company, valued at approximately $897,626.52. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Limoneira Stock Down 5.5%

Limoneira stock traded down $0.58 during mid-day trading on Tuesday, reaching $10.06. The company's stock had a trading volume of 226,619 shares, compared to its average volume of 96,224. Limoneira Co has a 12 month low of $10.05 and a 12 month high of $15.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.51. The business's 50 day simple moving average is $12.47 and its 200 day simple moving average is $13.20. The company has a market capitalization of $182.39 million, a price-to-earnings ratio of -4.21 and a beta of 0.34.

Limoneira (NASDAQ:LMNR - Get Free Report) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.17). Limoneira had a negative return on equity of 13.91% and a negative net margin of 33.03%. The firm had revenue of $43.81 million for the quarter, compared to the consensus estimate of $49.62 million. As a group, research analysts anticipate that Limoneira Co will post -0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LMNR. Wall Street Zen upgraded Limoneira from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 5th. Lake Street Capital reduced their price target on Limoneira from $18.00 to $16.50 and set a "buy" rating on the stock in a report on Thursday, September 10th. Zacks Research downgraded Limoneira from a "hold" rating to a "strong sell" rating in a report on Monday, October 12th. Finally, Weiss Ratings upgraded shares of Limoneira from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, October 9th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $16.50.

Institutional Trading of Limoneira

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Limoneira in the 2nd quarter worth $15,065,000. First Wilshire Securities Management Inc. lifted its stake in Limoneira by 122.2% in the first quarter. First Wilshire Securities Management Inc. now owns 578,059 shares of the company's stock valued at $7,758,000 after purchasing an additional 317,872 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Limoneira by 7.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 293,200 shares of the company's stock worth $3,935,000 after acquiring an additional 21,000 shares during the period. Flax Pond Capital LLC increased its stake in shares of Limoneira by 0.7% in the first quarter. Flax Pond Capital LLC now owns 171,132 shares of the company's stock worth $2,297,000 after purchasing an additional 1,224 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in Limoneira by 91.7% in the 1st quarter. Quantinno Capital Management LP now owns 62,758 shares of the company's stock valued at $842,000 after buying an additional 30,020 shares in the last quarter. 64.35% of the stock is owned by institutional investors.

Limoneira Company Profile

Limoneira Company is an agribusiness and real estate development company headquartered in Santa Paula, California. Founded in 1893, the company is one of the oldest and largest lemon producers in the United States and owns or manages agricultural land primarily in California and Arizona.

Limoneira grows, packs, markets and distributes lemons, avocados, oranges and other specialty citrus products. Its operations include orchard management, harvesting, packing and fresh-produce marketing, with products sold through retailers, foodservice providers and other commercial customers in the United States and international markets.

In addition to its agricultural activities, Limoneira owns land and pursues real estate development projects connected to its properties.

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