Limoneira (NASDAQ:LMNR) Sees Significant Decrease in Short Interest


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Limoneira (NASDAQ:LMNR) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 293,200 shares, a decrease of 21.9% from the March 31st total of 375,400 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 63,800 shares, the days-to-cover ratio is presently 4.6 days.

In other Limoneira news, Director Jose De Jesus Loza bought 7,500 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The stock was purchased at an average cost of $18.38 per share, for a total transaction of $137,850.00. Following the completion of the purchase, the director now owns 263,568 shares of the company’s stock, valued at approximately $4,844,379.84. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders purchased 30,850 shares of company stock valued at $542,093 and sold 6,119 shares valued at $107,346. Corporate insiders own 4.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Whittier Trust Co. boosted its holdings in Limoneira by 4.5% in the fourth quarter. Whittier Trust Co. now owns 23,089 shares of the company’s stock valued at $384,000 after purchasing an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Limoneira by 15.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,553 shares of the company’s stock valued at $209,000 after purchasing an additional 1,677 shares during the last quarter. Citigroup Inc. boosted its holdings in Limoneira by 259.6% in the fourth quarter. Citigroup Inc. now owns 3,276 shares of the company’s stock valued at $55,000 after purchasing an additional 2,365 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Limoneira by 8.4% in the fourth quarter. Wells Fargo & Company MN now owns 45,903 shares of the company’s stock valued at $764,000 after purchasing an additional 3,558 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Limoneira by 26.0% in the fourth quarter. Rhumbline Advisers now owns 24,741 shares of the company’s stock valued at $412,000 after purchasing an additional 5,108 shares during the last quarter. 52.88% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on LMNR shares. Northland Securities upgraded Limoneira from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Friday, March 12th. Zacks Investment Research raised Limoneira from a “sell” rating to a “hold” rating in a research report on Wednesday, March 17th. Stephens raised Limoneira from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $20.00 in a research report on Thursday, March 11th. Seaport Global Securities started coverage on Limoneira in a research report on Thursday, February 25th. They set a “neutral” rating for the company. Finally, Roth Capital boosted their price target on Limoneira from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Limoneira currently has an average rating of “Buy” and a consensus target price of $23.25.

Shares of NASDAQ LMNR traded down $0.06 on Tuesday, hitting $18.47. The company had a trading volume of 29,936 shares, compared to its average volume of 64,844. Limoneira has a 12-month low of $10.91 and a 12-month high of $19.37. The business has a 50 day moving average of $17.45 and a two-hundred day moving average of $16.14. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $326.64 million, a P/E ratio of -19.04, a PEG ratio of 5.67 and a beta of 1.04.

Limoneira (NASDAQ:LMNR) last issued its earnings results on Tuesday, March 9th. The company reported ($0.25) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.03. Limoneira had a negative return on equity of 5.77% and a negative net margin of 9.99%. The company had revenue of $38.28 million during the quarter, compared to the consensus estimate of $35.37 million. On average, sell-side analysts anticipate that Limoneira will post 0.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 16th. Stockholders of record on Monday, April 5th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, April 1st. Limoneira’s payout ratio is -43.48%.

Limoneira Company Profile

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through four segments: Fresh Lemons, Lemon Packing, Avocados, and Other Agribusiness. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, pistachios, and wine grapes.

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