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

Rangeley Capital LLC acquired a new stake in Cadiz Inc. (NASDAQ:CDZI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 660,000 shares of the company's stock, valued at approximately $3,432,000. Cadiz accounts for approximately 3.1% of Rangeley Capital LLC's holdings, making the stock its 9th largest holding. Rangeley Capital LLC owned about 0.88% of Cadiz at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Cadiz during the 3rd quarter worth about $58,000. BNP Paribas Financial Markets increased its holdings in shares of Cadiz by 27.0% during the third quarter. BNP Paribas Financial Markets now owns 20,386 shares of the company's stock worth $62,000 after purchasing an additional 4,329 shares during the period. Barclays PLC increased its position in shares of Cadiz by 315.6% in the third quarter. Barclays PLC now owns 60,217 shares of the company's stock worth $183,000 after purchasing an additional 45,728 shares during the period. Geode Capital Management LLC raised its stake in Cadiz by 3.2% in the third quarter. Geode Capital Management LLC now owns 989,296 shares of the company's stock valued at $2,998,000 after purchasing an additional 30,354 shares in the last quarter. Finally, HCR Wealth Advisors grew its stake in Cadiz by 15.8% during the fourth quarter. HCR Wealth Advisors now owns 528,000 shares of the company's stock worth $2,746,000 after buying an additional 72,079 shares in the last quarter. Institutional investors and hedge funds own 79.75% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Cadiz to a "sell" rating in a research report on Wednesday, March 5th.

Cadiz Price Performance

Cadiz stock traded down $0.04 during midday trading on Tuesday, reaching $2.44. The company's stock had a trading volume of 327,362 shares, compared to its average volume of 367,645. The stock has a market cap of $199.15 million, a PE ratio of -4.79 and a beta of 1.54. 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 Inc. has a 52 week low of $2.12 and a 52 week high of $5.68. The business has a 50-day moving average price of $4.06 and a 200-day moving average price of $3.93.

Cadiz (NASDAQ:CDZI - Get Free Report) last posted its earnings results on Friday, March 28th. The company reported ($0.14) EPS 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 firm had revenue of $4.75 million during the quarter, compared to the consensus estimate of $8.44 million. On average, sell-side analysts predict that Cadiz Inc. will post -0.47 EPS for the current year.

Cadiz Profile

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.