Kings Point Capital Management continued to hold its stake in Cadiz, Inc. (NASDAQ:CDZI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,000 shares of the company’s stock at the end of the second quarter. Kings Point Capital Management owned approximately 0.34% of Cadiz worth $1,013,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. American Assets Capital Advisers boosted its stake in Cadiz by 23.8% in the second quarter. American Assets Capital Advisers now owns 1,040,484 shares of the company’s stock valued at $14,147,000 after buying an additional 200,161 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Cadiz by 10.6% in the second quarter. Janney Montgomery Scott LLC now owns 105,151 shares of the company’s stock valued at $1,420,000 after buying an additional 10,088 shares during the last quarter. Ironsides Asset Advisors LLC purchased a new stake in Cadiz during the second quarter valued at $171,000. Bank of New York Mellon Corp boosted its stake in Cadiz by 290.9% in the second quarter. Bank of New York Mellon Corp now owns 78,518 shares of the company’s stock valued at $1,060,000 after buying an additional 58,430 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in Cadiz during the second quarter valued at $316,000. 48.53% of the stock is currently owned by institutional investors.
Cadiz, Inc. (CDZI) traded up 2.27% during mid-day trading on Friday, reaching $11.25. The company’s stock had a trading volume of 77,643 shares. Cadiz, Inc. has a one year low of $6.70 and a one year high of $16.25. The stock’s market cap is $250.39 million. The firm’s 50 day moving average is $12.27 and its 200-day moving average is $14.04.
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Several analysts have weighed in on CDZI shares. BidaskClub cut Cadiz from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. B. Riley reaffirmed a “buy” rating and set a $17.50 price objective on shares of Cadiz in a research report on Wednesday, July 19th.
In related news, CFO Timothy J. Shaheen sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $13.00, for a total transaction of $650,000.00. Following the sale, the chief financial officer now directly owns 108,500 shares of the company’s stock, valued at approximately $1,410,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.56% of the stock is owned by corporate insiders.
Cadiz Company Profile
Cadiz Inc is a land and water resource development company. As of December 31, 2016, the Company had 45,000 acres of land in three areas of eastern San Bernardino County, California. The Company’s primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage and agriculture.
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