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

Limoneira Co (NASDAQ:LMNR) CFO Gregory Hamm sold 1,000 shares of Limoneira 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 sale, the chief financial officer owned 83,812 shares of the company’s stock, valued at approximately $897,626.52. This trade represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Limoneira Price Performance

Shares of NASDAQ:LMNR traded down $0.58 during trading on Tuesday, reaching $10.06. The company 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 fifty day moving average of $12.47 and a two-hundred day moving average of $13.20. The stock has a market capitalization of $182.39 million, a P/E ratio of -4.21 and a beta of 0.34. The company has a current ratio of 1.51, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67.

Limoneira (NASDAQ:LMNR) 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). The firm had revenue of $43.81 million for the quarter, compared to analysts’ expectations of $49.62 million. Limoneira had a negative net margin of 33.03% and a negative return on equity of 13.91%. Equities research analysts forecast that Limoneira Co will post -0.73 earnings per share for the current year.

Institutional Trading of Limoneira

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Limoneira in the third quarter worth $289,000. Telos Capital Management Inc. bought a new position in Limoneira in the 3rd quarter worth about $240,000. Wedbush Securities Inc. bought a new position in Limoneira in the 2nd quarter worth about $297,000. Parvin Asset Management LLC bought a new position in Limoneira in the 2nd quarter worth about $181,000. Finally, Bank of America Corp DE bought a new position in Limoneira in the 2nd quarter worth about $166,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Limoneira

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.