Rangeley Capital LLC Purchases New Position in Cadiz Inc. (NASDAQ:CDZI)

Rangeley Capital LLC acquired a new stake in Cadiz Inc. (NASDAQ:CDZI) in the fourth quarter, Holdings Channel.com reports. The firm acquired 660,000 shares of the company’s stock, valued at approximately $3,432,000. Cadiz makes up approximately 3.1% of Rangeley Capital LLC’s portfolio, making the stock its 9th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDZI. BNP Paribas Financial Markets raised its stake in shares of Cadiz by 27.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company’s stock valued at $62,000 after purchasing an additional 4,329 shares during the period. SG Americas Securities LLC grew its holdings in Cadiz by 31.6% during the 4th quarter. SG Americas Securities LLC now owns 19,717 shares of the company’s stock valued at $103,000 after buying an additional 4,737 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Cadiz by 11.9% during the fourth quarter. Bank of New York Mellon Corp now owns 101,719 shares of the company’s stock valued at $529,000 after buying an additional 10,790 shares during the period. Corient Private Wealth LLC purchased a new stake in shares of Cadiz in the fourth quarter worth about $57,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Cadiz in the third quarter valued at approximately $58,000. Institutional investors own 79.75% of the company’s stock.

Cadiz Price Performance

CDZI opened at $2.95 on Thursday. The company has a market cap of $241.27 million, a P/E ratio of -5.78 and a beta of 1.54. Cadiz Inc. has a 12 month low of $2.12 and a 12 month high of $5.68. The business’s 50-day moving average price is $4.19 and its 200-day moving average price is $3.94. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 3.88.

Cadiz (NASDAQ:CDZI) last announced its quarterly earnings data on Friday, March 28th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Cadiz had a negative net margin of 528.15% and a negative return on equity of 93.78%. The company had revenue of $4.75 million during the quarter, compared to the consensus estimate of $8.44 million. On average, equities analysts expect that Cadiz Inc. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised Cadiz to a “sell” rating in a report on Wednesday, March 5th.

About Cadiz

Cadiz Inc, together with its subsidiaries, provides water solutions in the United States. The company operates through Land and Water Resources; and Water Filtration Technology segments. It offers water supply, water storage, water conveyance, and water filtration services. In addition, the company is involved in the cultivation of grain crops and alfalfa, as well as provides water filtration solutions for impaired or contaminated groundwater sources.