First Manhattan Co. Maintains Position in Cadiz, Inc. (NASDAQ:CDZI)

First Manhattan Co. maintained its stake in Cadiz, Inc. (NASDAQ:CDZI) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 31,500 shares of the company’s stock at the end of the second quarter. First Manhattan Co. owned approximately 0.14% of Cadiz worth $425,000 as of its most recent filing with the SEC.

Separately, 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 worth $1,420,000 after buying an additional 10,088 shares during the last quarter. Institutional investors own 48.53% of the company’s stock.

Shares of Cadiz, Inc. (NASDAQ CDZI) traded up 1.80% during midday trading on Friday, hitting $11.30. The stock had a trading volume of 155,556 shares. The stock’s 50 day moving average price is $12.51 and its 200 day moving average price is $14.15. The firm’s market cap is $251.50 million. Cadiz, Inc. has a 12 month low of $6.70 and a 12 month high of $16.25.

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A number of brokerages recently issued reports on CDZI. B. Riley restated a “buy” rating and issued a $17.50 price objective on shares of Cadiz in a research note on Monday, July 24th. BidaskClub cut Cadiz from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th.

In other news, CFO Timothy J. Shaheen sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $13.00, for a total value of $650,000.00. Following the transaction, the chief financial officer now owns 108,500 shares of the company’s stock, valued at $1,410,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.56% of the stock is owned by company insiders.

About Cadiz

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.

Institutional Ownership by Quarter for Cadiz (NASDAQ:CDZI)

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