Pure Cycle Corporation $PCYO Stock: Magnolia Group LLC Reduces Holdings

Magnolia Group LLC reduced its stake in Pure Cycle Corporation (NASDAQ:PCYO) by 46.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 969,746 shares of the utilities provider’s stock after selling 825,675 shares during the period. Pure Cycle makes up approximately 3.7% of Magnolia Group LLC’s investment portfolio, making the stock its 8th biggest position. Magnolia Group LLC owned about 4.02% of Pure Cycle worth $10,706,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PCYO. Parallel Advisors LLC bought a new stake in shares of Pure Cycle during the 1st quarter valued at $111,000. Lido Advisors LLC bought a new position in shares of Pure Cycle in the first quarter worth $205,000. Leo Wealth LLC bought a new position in shares of Pure Cycle in the third quarter worth $246,000. John G Ullman & Associates Inc. acquired a new position in Pure Cycle in the first quarter valued at about $265,000. Finally, Marquette Asset Management LLC acquired a new position in Pure Cycle in the second quarter valued at about $270,000. 51.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Pure Cycle from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 28th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Pure Cycle Stock Down 0.1%

Shares of PCYO opened at $10.93 on Thursday. The firm has a 50 day simple moving average of $10.94 and a two-hundred day simple moving average of $10.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.53 and a quick ratio of 1.13. Pure Cycle Corporation has a one year low of $9.70 and a one year high of $12.44. The company has a market cap of $263.41 million, a P/E ratio of 17.92 and a beta of 1.16.

About Pure Cycle

Pure Cycle Corporation is a Colorado-based water and land development company serving communities in the Denver metropolitan area. Its water and wastewater business provides services to developers, municipalities and customers, including water supply, treatment and distribution, as well as wastewater collection and treatment. The company also owns and develops land, including property associated with the Sky Ranch master-planned community in the Denver region. Its activities include preparing land for residential and commercial development and coordinating related infrastructure.