Alyeska Investment Group L.P. Invests $8.02 Million in Cadiz, Inc. $CDZI

Key Points

• Alyeska Investment Group L.P. invested $8.02 million in Cadiz, Inc., acquiring approximately 2.7 million shares, which represents about 3.34% of the company's stock.
• Cadiz recently reported earnings of ($0.11) per share, missing estimates, while revenue for the quarter was $4.13 million, exceeding expectations.
• Multiple brokerages have upgraded Cadiz's stock ratings, with a consensus target price of $10.00 and one analyst labeling it as a "Moderate Buy."

Alyeska Investment Group L.P. purchased a new stake in Cadiz, Inc. (NASDAQ:CDZI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,735,909 shares of the company's stock, valued at approximately $8,016,000. Alyeska Investment Group L.P. owned 3.34% of Cadiz at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CDZI. Virtu Financial LLC acquired a new position in shares of Cadiz during the 1st quarter worth approximately $41,000. Morton Capital Management LLC CA acquired a new position in shares of Cadiz during the 1st quarter worth approximately $49,000. Ethic Inc. acquired a new position in shares of Cadiz during the 4th quarter worth approximately $57,000. ProShare Advisors LLC acquired a new position in shares of Cadiz during the 4th quarter worth approximately $62,000. Finally, Brookwood Investment Group LLC acquired a new position in shares of Cadiz during the 1st quarter worth approximately $62,000. 79.75% of the stock is owned by institutional investors and hedge funds.

Cadiz Price Performance

Shares of CDZI traded down $0.21 during trading hours on Tuesday, hitting $3.48. 541,038 shares of the stock were exchanged, compared to its average volume of 549,860. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.55 and a current ratio of 1.81. Cadiz, Inc. has a 12-month low of $2.13 and a 12-month high of $5.68. The company has a market cap of $285.43 million, a price-to-earnings ratio of -6.82 and a beta of 1.82. The stock's 50-day moving average price is $3.26 and its two-hundred day moving average price is $3.15.

Cadiz (NASDAQ:CDZI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The firm had revenue of $4.13 million for the quarter, compared to analysts' expectations of $3.90 million. Cadiz had a negative return on equity of 97.55% and a negative net margin of 217.49%. Research analysts expect that Cadiz, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

CDZI has been the subject of several research analyst reports. Wall Street Zen raised Cadiz from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Zacks Research upgraded Cadiz from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Cadiz has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Cadiz Company 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.