Rangeley Capital LLC Makes New $3.43 Million Investment in Cadiz Inc. (NASDAQ:CDZI)

Rangeley Capital LLC bought a new stake in Cadiz Inc. (NASDAQ:CDZI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 investment portfolio, making the stock its 9th biggest position. Rangeley Capital LLC owned approximately 0.88% of Cadiz at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in Cadiz by 27.0% in the 3rd 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 in the last quarter. SG Americas Securities LLC grew its holdings in shares of Cadiz by 31.6% in the fourth quarter. SG Americas Securities LLC now owns 19,717 shares of the company’s stock valued at $103,000 after acquiring 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 acquiring an additional 10,790 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Cadiz during the fourth quarter worth $57,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Cadiz in the third quarter worth $58,000. Hedge funds and other institutional investors own 79.75% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cadiz Price Performance

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

Cadiz (NASDAQ:CDZI) last posted its quarterly earnings data 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 analysts’ expectations of $8.44 million. As a group, equities analysts expect that Cadiz Inc. will post -0.47 earnings per share for the current year.

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.