The Manufacturers Life Insurance Company Increases Position in Cadiz Inc (CDZI)
The Manufacturers Life Insurance Company boosted its position in shares of Cadiz Inc (NASDAQ:CDZI) by 14,936.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,796 shares of the company’s stock after buying an additional 18,671 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Cadiz worth $254,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Cadiz by 9.0% during the second quarter. Vanguard Group Inc. now owns 922,533 shares of the company’s stock valued at $12,454,000 after buying an additional 76,090 shares during the last quarter. State Street Corp bought a new stake in shares of Cadiz in the 2nd quarter valued at approximately $3,622,000. Northern Trust Corp lifted its stake in shares of Cadiz by 274.3% in the 2nd quarter. Northern Trust Corp now owns 254,385 shares of the company’s stock valued at $3,434,000 after purchasing an additional 186,420 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Cadiz by 10.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 105,151 shares of the company’s stock valued at $1,420,000 after purchasing an additional 10,088 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cadiz by 290.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 78,518 shares of the company’s stock valued at $1,060,000 after purchasing an additional 58,430 shares during the last quarter. 49.09% of the stock is owned by institutional investors.
Several research firms have recently issued reports on CDZI. BidaskClub lowered Cadiz from a “buy” rating to a “hold” rating in a research note on Tuesday. B. Riley set a $18.00 price objective on Cadiz and gave the company a “buy” rating in a research note on Monday, October 16th.
Shares of Cadiz Inc (CDZI) opened at $13.55 on Thursday. Cadiz Inc has a one year low of $9.65 and a one year high of $16.25. The company has a debt-to-equity ratio of -1.76, a quick ratio of 1.84 and a current ratio of 1.84.
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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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