Levin Capital Strategies L.P. Raises Stock Position in Cadiz, Inc. $CDZI

Levin Capital Strategies L.P. increased its position in shares of Cadiz, Inc. (NASDAQ:CDZI) by 12.9% during the third quarter, HoldingsChannel.com reports. The fund owned 3,661,547 shares of the company’s stock after acquiring an additional 419,025 shares during the period. Cadiz makes up approximately 1.6% of Levin Capital Strategies L.P.’s holdings, making the stock its 21st largest holding. Levin Capital Strategies L.P.’s holdings in Cadiz were worth $17,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Neuberger Berman Group LLC bought a new stake in shares of Cadiz during the 2nd quarter valued at about $32,000. ProShare Advisors LLC purchased a new stake in Cadiz in the second quarter valued at approximately $34,000. Evelyn Partners Investment Management LLP lifted its position in Cadiz by 1,526.4% during the second quarter. Evelyn Partners Investment Management LLP now owns 15,191 shares of the company’s stock valued at $45,000 after purchasing an additional 14,257 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Cadiz by 28.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,926 shares of the company’s stock worth $66,000 after buying an additional 4,918 shares in the last quarter. Finally, LDR Capital Management LLC bought a new position in shares of Cadiz in the 3rd quarter worth $71,000. 79.75% of the stock is owned by institutional investors.

Cadiz Trading Up 2.9%

Shares of NASDAQ:CDZI opened at $5.40 on Thursday. The stock’s 50-day simple moving average is $5.69 and its two-hundred day simple moving average is $4.99. The stock has a market capitalization of $448.79 million, a price-to-earnings ratio of -11.02 and a beta of 2.03. Cadiz, Inc. has a 52-week low of $2.13 and a 52-week high of $6.96. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.96 and a current ratio of 1.26.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CDZI shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cadiz in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Cadiz from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Maxim Group assumed coverage on Cadiz in a report on Monday, February 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.00.

Cadiz Profile

Cadiz, Inc (NASDAQ: CDZI) is a Southern California–based water resource management company focused on developing and operating groundwater storage, recovery and conveyance projects. The company holds water rights and mineral rights on approximately 34,000 acres in the Mojave Desert and is chiefly known for advancing the Cadiz Water Project, a planned system to capture, store and distribute groundwater to urban and agricultural users in the region.

The company’s primary business activity centers on the development of infrastructure that enables sustainable groundwater banking.