Limoneira (NASDAQ:LMNR) Short Interest Update

Limoneira (NASDAQ:LMNR) saw a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 395,300 shares, a decrease of 14.4% from the July 31st total of 462,000 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily volume of 46,400 shares, the short-interest ratio is currently 8.5 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Covestor Ltd increased its stake in shares of Limoneira by 48.9% during the first quarter. Covestor Ltd now owns 5,764 shares of the company’s stock valued at $113,000 after purchasing an additional 1,893 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Limoneira by 60.8% during the first quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company’s stock valued at $165,000 after buying an additional 3,199 shares during the last quarter. Bulldog Investors LLP bought a new stake in Limoneira in the fourth quarter worth $413,000. American Century Companies Inc. increased its holdings in shares of Limoneira by 32.9% during the second quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock valued at $462,000 after acquiring an additional 5,498 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Limoneira by 7.4% in the 2nd quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock worth $473,000 after purchasing an additional 1,565 shares during the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Lake Street Capital boosted their target price on Limoneira from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 7th.

Limoneira Price Performance

LMNR traded up $0.21 on Friday, hitting $25.08. The company had a trading volume of 33,972 shares, compared to its average volume of 46,530. The stock has a fifty day simple moving average of $21.44 and a 200-day simple moving average of $20.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 0.93. Limoneira has a 52-week low of $13.88 and a 52-week high of $25.89.

Limoneira (NASDAQ:LMNR) last released its earnings results on Thursday, June 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.20. The company had revenue of $44.61 million during the quarter, compared to analysts’ expectations of $54.62 million. Limoneira had a positive return on equity of 0.67% and a negative net margin of 0.92%. On average, sell-side analysts anticipate that Limoneira will post 0.22 EPS for the current fiscal year.

Limoneira Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 8th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, July 8th. Limoneira’s dividend payout ratio is presently -230.77%.

Limoneira Company Profile

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. 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, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.