Limoneira (NASDAQ:LMNR) Stock: Insider Gregory Hamm Sells 1,000 Shares

Key Points

• CFO Gregory Hamm sold 1,000 Limoneira shares at an average price of $11.90, generating $11,900; the transaction was made under a pre-arranged Rule 10b5-1 plan. He retained 84,812 shares afterward.
• Limoneira’s stock rose to $11.99, near its 52-week low of $11.66, after the company reported quarterly EPS of $0.02—well below the $0.19 consensus—and revenue of $43.81 million versus the $49.62 million estimate.
• Analyst sentiment is mixed, with two Buy, one Hold, and one Sell rating; the consensus rating is Hold with a $16.50 average price target. Institutional investors own 64.35% of the company.

Limoneira Co (NASDAQ:LMNR - Get Free Report) CFO Gregory Hamm sold 1,000 shares of Limoneira stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $11.90, for a total transaction of $11,900.00. Following the completion of the sale, the chief financial officer owned 84,812 shares in the company, valued at approximately $1,009,262.80. This represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Limoneira Stock Performance

Limoneira stock traded up $0.07 during midday trading on Friday, reaching $11.99. 155,382 shares of the stock traded hands, compared to its average volume of 90,469. Limoneira Co has a fifty-two week low of $11.66 and a fifty-two week high of $15.43. The company has a current ratio of 1.51, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a market cap of $217.38 million, a price-to-earnings ratio of -5.02 and a beta of 0.34. The firm has a fifty day moving average price of $13.46 and a two-hundred day moving average price of $13.20.

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

Hedge Funds Weigh In On Limoneira

Several large investors have recently made changes to their positions in LMNR. BlackRock Inc. acquired a new stake in Limoneira during the second quarter valued at approximately $15,065,000. First Wilshire Securities Management Inc. grew its position in 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 buying an additional 317,872 shares during the last quarter. SFE Investment Counsel acquired a new position in Limoneira in the second quarter worth approximately $788,000. Bank of New York Mellon Corp bought a new position in shares of Limoneira in the second quarter valued at $659,000. Finally, Flax Pond Capital LLC bought a new position in shares of Limoneira in the fourth quarter valued at $2,145,000. Institutional investors own 64.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. HC Wainwright cut Limoneira to a "buy" rating in a research note on Wednesday, June 10th. Lake Street Capital reduced their price objective on shares of Limoneira from $18.00 to $16.50 and set a "buy" rating for the company in a report on Thursday, September 10th. Weiss Ratings lowered shares of Limoneira from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, September 24th. Finally, Wall Street Zen raised shares of Limoneira from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 5th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Limoneira presently has an average rating of "Hold" and an average target price of $16.50.

About Limoneira

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.

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