Permanent Capital Management LP Makes New Investment in Cadiz, Inc. $CDZI

Permanent Capital Management LP bought a new stake in shares of Cadiz, Inc. (NASDAQ:CDZI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 496,519 shares of the company’s stock, valued at approximately $2,344,000. Cadiz accounts for 0.4% of Permanent Capital Management LP’s holdings, making the stock its 27th largest holding. Permanent Capital Management LP owned about 0.61% of Cadiz at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDZI. Neuberger Berman Group LLC purchased a new position in Cadiz during the 2nd quarter valued at $32,000. ProShare Advisors LLC bought a new stake in shares of Cadiz during the second quarter worth $34,000. Evelyn Partners Investment Management LLP boosted its stake in shares of Cadiz by 1,526.4% during the second quarter. Evelyn Partners Investment Management LLP now owns 15,191 shares of the company’s stock valued at $45,000 after purchasing an additional 14,257 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Cadiz by 28.9% in the second quarter. The Manufacturers Life Insurance Company now owns 21,926 shares of the company’s stock worth $66,000 after purchasing an additional 4,918 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Cadiz in the first quarter worth about $79,000. 79.75% of the stock is currently owned by hedge funds and other institutional investors.

Cadiz Stock Down 0.2%

Shares of Cadiz stock opened at $5.70 on Monday. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.26 and a quick ratio of 0.96. Cadiz, Inc. has a 1 year low of $2.13 and a 1 year high of $6.49. The firm’s 50-day moving average is $5.40 and its two-hundred day moving average is $4.28. The stock has a market cap of $473.73 million, a price-to-earnings ratio of -11.63 and a beta of 2.02.

Cadiz (NASDAQ:CDZI) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Cadiz had a negative net margin of 206.65% and a negative return on equity of 93.48%. The business had revenue of $4.15 million during the quarter, compared to the consensus estimate of $3.90 million. As a group, research analysts expect that Cadiz, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CDZI has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Cadiz from a “sell” rating to a “hold” rating in a report on Saturday, November 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cadiz in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cadiz has an average rating of “Hold” and a consensus price target 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.