HCR Wealth Advisors Reduces Stake in Cadiz, Inc. $CDZI

Key Points

• HCR Wealth Advisors significantly reduced its stake in Cadiz, Inc. by 92.0%, selling over 562,000 shares, and now holds approximately 49,000 shares valued at $147,000.
• Cadiz, Inc. reported a quarterly earnings per share (EPS) of ($0.11), missing analyst estimates of ($0.09), with revenue of $4.13 million compared to expectations of $3.90 million.
• Analysts have given Cadiz a consensus rating of "Moderate Buy" with an average price target of $10.00 following recent upgrades from various research firms.

HCR Wealth Advisors reduced its stake in Cadiz, Inc. (NASDAQ:CDZI - Free Report) by 92.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,000 shares of the company's stock after selling 562,750 shares during the quarter. HCR Wealth Advisors owned approximately 0.06% of Cadiz worth $147,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Parkshore Wealth Management Inc. grew its holdings in Cadiz by 3.3% in the 1st quarter. Parkshore Wealth Management Inc. now owns 255,618 shares of the company's stock valued at $749,000 after buying an additional 8,174 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Cadiz during the 4th quarter worth $62,000. Virtu Financial LLC purchased a new position in shares of Cadiz during the 1st quarter worth $41,000. Morton Capital Management LLC CA purchased a new position in shares of Cadiz during the 1st quarter worth $49,000. Finally, Brookwood Investment Group LLC purchased a new position in shares of Cadiz during the 1st quarter worth $62,000. 79.75% of the stock is currently owned by hedge funds and other institutional investors.

Cadiz Price Performance

CDZI opened at $4.72 on Wednesday. The stock's 50-day moving average price is $3.64 and its 200 day moving average price is $3.18. Cadiz, Inc. has a 12-month low of $2.13 and a 12-month high of $5.68. The company has a current ratio of 1.81, a quick ratio of 1.55 and a debt-to-equity ratio of 2.40. The firm has a market cap of $387.13 million, a price-to-earnings ratio of -9.25 and a beta of 1.82.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CDZI. Zacks Research upgraded Cadiz from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Wall Street Zen upgraded Cadiz from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Cadiz presently has a consensus rating of "Moderate Buy" and an average price target of $10.00.

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.

Want to see what other hedge funds are holding CDZI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadiz, Inc. (NASDAQ:CDZI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.