American Assets Capital Advisers LLC Trims Stake in Cadiz, Inc. $CDZI

American Assets Capital Advisers LLC cut its position in Cadiz, Inc. (NASDAQ:CDZI) by 38.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 601,113 shares of the company’s stock after selling 378,441 shares during the quarter. Cadiz makes up 3.0% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 12th biggest holding. American Assets Capital Advisers LLC’s holdings in Cadiz were worth $2,837,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. lifted its stake in Cadiz by 5.7% in the second quarter. Levin Capital Strategies L.P. now owns 3,242,522 shares of the company’s stock valued at $9,695,000 after buying an additional 176,142 shares during the last quarter. Bank of America Corp DE grew its position in shares of Cadiz by 50.2% during the second quarter. Bank of America Corp DE now owns 1,517,751 shares of the company’s stock worth $4,538,000 after acquiring an additional 507,449 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cadiz by 19.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,262,379 shares of the company’s stock valued at $3,775,000 after acquiring an additional 208,830 shares during the period. Elkhorn Partners Limited Partnership raised its position in Cadiz by 7.2% in the 2nd quarter. Elkhorn Partners Limited Partnership now owns 683,000 shares of the company’s stock valued at $2,042,000 after purchasing an additional 46,000 shares during the last quarter. Finally, Permanent Capital Management LP purchased a new stake in Cadiz in the 3rd quarter valued at $2,344,000. Hedge funds and other institutional investors own 79.75% of the company’s stock.

Cadiz Stock Down 4.8%

Shares of Cadiz stock opened at $5.37 on Tuesday. Cadiz, Inc. has a one year low of $2.13 and a one year high of $6.96. The company has a market cap of $446.30 million, a P/E ratio of -10.96 and a beta of 2.03. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.96 and a current ratio of 1.26. The firm has a fifty day moving average of $5.85 and a two-hundred day moving average of $4.84.

Cadiz (NASDAQ:CDZI) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $4.15 million for the quarter, compared to analyst estimates of $3.90 million. Cadiz had a negative return on equity of 93.48% and a negative net margin of 206.65%. On average, analysts forecast that Cadiz, Inc. will post -0.47 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on CDZI shares. Wall Street Zen raised shares of Cadiz from a “sell” rating to a “hold” rating in a research report on Saturday, November 29th. Maxim Group began coverage on shares of Cadiz in a research note on Monday. They set a “buy” rating and a $10.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cadiz in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.00.

Cadiz Company Profile

Cadiz, Inc (NASDAQ: CDZI) is a Southern California–based water resource management company focused on developing and operating groundwater storage, recovery and conveyance projects. The company holds water rights and mineral rights on approximately 34,000 acres in the Mojave Desert and is chiefly known for advancing the Cadiz Water Project, a planned system to capture, store and distribute groundwater to urban and agricultural users in the region.

The company’s primary business activity centers on the development of infrastructure that enables sustainable groundwater banking.