International Group Se Heerema Purchases 2,070,000 Shares of Cadiz Inc. (NASDAQ:CDZI) Stock

Cadiz Inc. (NASDAQ:CDZI) major shareholder International Group Se Heerema purchased 2,070,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was bought at an average price of $3.34 per share, for a total transaction of $6,913,800.00. Following the acquisition, the insider now owns 22,783,965 shares in the company, valued at $76,098,443.10. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cadiz Trading Down 5.1 %

Shares of CDZI opened at $3.56 on Friday. Cadiz Inc. has a twelve month low of $2.12 and a twelve month high of $3.85. The firm has a market capitalization of $241.72 million, a P/E ratio of -6.98 and a beta of 0.85. The company has a current ratio of 1.89, a quick ratio of 1.40 and a debt-to-equity ratio of 2.86. The stock’s fifty day simple moving average is $3.13 and its 200 day simple moving average is $3.08.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The firm had revenue of $0.51 million during the quarter, compared to analysts’ expectations of $4.00 million. Cadiz had a negative return on equity of 77.51% and a negative net margin of 1,095.05%. On average, equities research analysts forecast that Cadiz Inc. will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its position in shares of Cadiz by 6.8% in the second quarter. Rhumbline Advisers now owns 46,978 shares of the company’s stock worth $145,000 after acquiring an additional 2,995 shares in the last quarter. Joel Isaacson & Co. LLC boosted its position in Cadiz by 70.8% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 20,500 shares of the company’s stock worth $62,000 after purchasing an additional 8,500 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Cadiz in the 2nd quarter valued at $31,000. Elkhorn Partners Limited Partnership raised its position in Cadiz by 2.3% in the second quarter. Elkhorn Partners Limited Partnership now owns 655,247 shares of the company’s stock valued at $2,025,000 after purchasing an additional 14,447 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Cadiz during the third quarter worth about $45,000. Hedge funds and other institutional investors own 79.75% of the company’s stock.

About Cadiz

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.