Curi RMB Capital LLC Sells 115,189 Shares of Pure Cycle Corporation $PCYO

Key Points

• Curi RMB Capital LLC has reduced its stake in Pure Cycle Corporation by 41.8%, selling 115,189 shares and now owning 0.67% of the company valued at around $1.68 million.
• Pure Cycle reported a $0.09 EPS with a revenue of $5.14 million for the last quarter, along with a net margin of 49.58% and a return on equity of 10.19%.
• Wall Street analysts have downgraded Pure Cycle from a "hold" rating to a "sell" rating, reflecting concerns about the company's stock performance.

Curi RMB Capital LLC cut its holdings in shares of Pure Cycle Corporation (NASDAQ:PCYO - Free Report) by 41.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,211 shares of the utilities provider's stock after selling 115,189 shares during the quarter. Curi RMB Capital LLC owned about 0.67% of Pure Cycle worth $1,677,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in shares of Pure Cycle by 87.0% in the fourth quarter. BNP Paribas Financial Markets now owns 8,832 shares of the utilities provider's stock worth $112,000 after acquiring an additional 4,110 shares during the last quarter. Deutsche Bank AG bought a new stake in Pure Cycle in the 4th quarter valued at $126,000. Wells Fargo & Company MN grew its position in Pure Cycle by 23.8% in the 4th quarter. Wells Fargo & Company MN now owns 12,191 shares of the utilities provider's stock worth $155,000 after purchasing an additional 2,343 shares during the last quarter. Millennium Management LLC bought a new position in shares of Pure Cycle during the 4th quarter worth about $166,000. Finally, Bank of America Corp DE increased its holdings in shares of Pure Cycle by 42.4% during the 4th quarter. Bank of America Corp DE now owns 25,511 shares of the utilities provider's stock worth $323,000 after purchasing an additional 7,593 shares during the period. 51.39% of the stock is owned by institutional investors.

Pure Cycle Price Performance

Shares of NASDAQ:PCYO traded up $0.25 during midday trading on Thursday, reaching $11.28. 62,736 shares of the company's stock were exchanged, compared to its average volume of 34,486. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.40 and a current ratio of 3.52. The company's 50 day simple moving average is $10.24 and its two-hundred day simple moving average is $10.43. Pure Cycle Corporation has a 12 month low of $9.65 and a 12 month high of $14.63. The firm has a market capitalization of $271.51 million, a PE ratio of 20.51 and a beta of 1.33.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 9th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $5.14 million during the quarter. Pure Cycle had a net margin of 49.58% and a return on equity of 10.19%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Pure Cycle from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

Pure Cycle Profile

Pure Cycle Corporation designs, constructs, operates, and maintains water and wastewater systems in the Denver metropolitan area and Colorado Front Range in the United States. It operates in two segments, Wholesale Water and Wastewater Services, and Land Development. The company engages in the wholesale water production, storage, treatment, and distribution systems; wastewater collection and treatment systems; development of 930-acre master-planned community; oil and gas leasing business; and construction and leasing of single-family homes.