American Assets Investment Management LLC Grows Stock Holdings in Cadiz, Inc. (NASDAQ:CDZI)

Key Points

• American Assets Investment Management LLC significantly increased its stake in Cadiz, Inc., acquiring 1,746,416 additional shares, leading to a total of 1,897,217 shares owned, valued at approximately $5.56 million.
• Cadiz, Inc. reported a quarterly earnings loss of ($0.14) per share, missing projections of ($0.11), and generated $2.95 million in revenue, below expected figures of $4.77 million.
• Institutional investors collectively hold 79.75% of Cadiz's stock, indicating strong institutional interest in the company.

American Assets Investment Management LLC raised its holdings in shares of Cadiz, Inc. (NASDAQ:CDZI - Free Report) by 1,158.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,897,217 shares of the company's stock after acquiring an additional 1,746,416 shares during the quarter. American Assets Investment Management LLC owned about 2.32% of Cadiz worth $5,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brookwood Investment Group LLC bought a new position in shares of Cadiz in the first quarter worth $62,000. Bank of New York Mellon Corp increased its holdings in shares of Cadiz by 55.6% in the first quarter. Bank of New York Mellon Corp now owns 158,312 shares of the company's stock worth $464,000 after purchasing an additional 56,593 shares during the period. HCR Wealth Advisors increased its holdings in shares of Cadiz by 15.9% in the first quarter. HCR Wealth Advisors now owns 611,750 shares of the company's stock worth $1,792,000 after purchasing an additional 83,750 shares during the period. Morton Capital Management LLC CA bought a new position in shares of Cadiz in the first quarter worth $49,000. Finally, Connective Capital Management LLC bought a new position in shares of Cadiz in the fourth quarter worth $327,000. Institutional investors own 79.75% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Roth Capital initiated coverage on shares of Cadiz in a research report on Thursday, April 17th. They issued a "buy" rating and a $10.00 target price for the company.

Cadiz Trading Up 7.7%

Shares of Cadiz stock traded up $0.24 during trading on Thursday, reaching $3.35. 908,013 shares of the stock were exchanged, compared to its average volume of 369,469. The company has a quick ratio of 1.97, a current ratio of 2.19 and a debt-to-equity ratio of 1.90. The stock's fifty day moving average is $3.04 and its 200 day moving average is $3.38. The firm has a market cap of $274.30 million, a price-to-earnings ratio of -6.09 and a beta of 1.76. Cadiz, Inc. has a 1 year low of $2.13 and a 1 year high of $5.68.

Cadiz (NASDAQ:CDZI - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). Cadiz had a negative return on equity of 107.34% and a negative net margin of 296.15%. The firm had revenue of $2.95 million for the quarter, compared to analysts' expectations of $4.77 million. As a group, equities research analysts expect that Cadiz, Inc. will post -0.47 earnings per share for the current fiscal 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.