Quinn Opportunity Partners LLC Raises Position in Limoneira (NASDAQ:LMNR)

Quinn Opportunity Partners LLC raised its position in Limoneira (NASDAQ:LMNRFree Report) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,028 shares of the company’s stock after purchasing an additional 4,407 shares during the quarter. Quinn Opportunity Partners LLC owned 0.37% of Limoneira worth $1,615,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LMNR. Van ECK Associates Corp grew its position in Limoneira by 77.5% in the 4th quarter. Van ECK Associates Corp now owns 2,581 shares of the company’s stock valued at $63,000 after acquiring an additional 1,127 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Limoneira by 14.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock worth $92,000 after buying an additional 436 shares during the period. SG Americas Securities LLC grew its position in shares of Limoneira by 20.1% during the 4th quarter. SG Americas Securities LLC now owns 6,924 shares of the company’s stock worth $169,000 after buying an additional 1,160 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Limoneira by 27.9% during the third quarter. JPMorgan Chase & Co. now owns 9,086 shares of the company’s stock valued at $241,000 after buying an additional 1,981 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Limoneira by 3.9% in the fourth quarter. Inspire Investing LLC now owns 16,279 shares of the company’s stock valued at $398,000 after acquiring an additional 617 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.

Limoneira Stock Performance

Shares of LMNR stock opened at $16.60 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.21. The company has a market cap of $299.55 million, a PE ratio of 43.69 and a beta of 0.38. Limoneira has a 12-month low of $15.58 and a 12-month high of $29.22. The business’s fifty day simple moving average is $20.01 and its 200-day simple moving average is $23.80.

Limoneira declared that its board has initiated a stock buyback plan on Monday, March 17th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Limoneira Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Monday, March 31st. Limoneira’s dividend payout ratio (DPR) is presently 73.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LMNR shares. StockNews.com raised shares of Limoneira to a “sell” rating in a research note on Wednesday. Lake Street Capital cut their target price on Limoneira from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th.

Check Out Our Latest Analysis on LMNR

About Limoneira

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Limoneira (NASDAQ:LMNR)

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