Monarch Partners Asset Management LLC grew its position in shares of Pure Cycle Co. (NASDAQ:PCYO) by 13.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 86,946 shares of the utilities provider’s stock after buying an additional 10,300 shares during the quarter. Monarch Partners Asset Management LLC’s holdings in Pure Cycle were worth $894,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of PCYO. Tealwood Asset Management Inc. grew its stake in shares of Pure Cycle by 56.5% during the third quarter. Tealwood Asset Management Inc. now owns 589,463 shares of the utilities provider’s stock valued at $6,060,000 after purchasing an additional 212,885 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Pure Cycle during the third quarter valued at approximately $640,000. Vanguard Group Inc. grew its stake in shares of Pure Cycle by 6.4% during the second quarter. Vanguard Group Inc. now owns 859,898 shares of the utilities provider’s stock valued at $9,115,000 after purchasing an additional 51,945 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Pure Cycle by 72.5% during the second quarter. Renaissance Technologies LLC now owns 67,628 shares of the utilities provider’s stock valued at $717,000 after purchasing an additional 28,428 shares during the last quarter. Finally, Skylands Capital LLC grew its stake in shares of Pure Cycle by 32.5% during the third quarter. Skylands Capital LLC now owns 105,157 shares of the utilities provider’s stock valued at $1,081,000 after purchasing an additional 25,807 shares during the last quarter. 66.90% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Plaisance Capital Llc acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were acquired at an average cost of $10.78 per share, for a total transaction of $53,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Par Investment Partners Lp sold 2,950,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $9.75, for a total transaction of $28,762,500.00. The disclosure for this sale can be found here. Company insiders own 5.03% of the company’s stock.
Shares of PCYO traded up $0.05 during mid-day trading on Friday, hitting $11.46. 27,100 shares of the company traded hands, compared to its average volume of 22,862. Pure Cycle Co. has a one year low of $9.20 and a one year high of $11.83. The business has a 50-day moving average of $10.91 and a 200 day moving average of $10.50. The stock has a market capitalization of $280.14 million, a price-to-earnings ratio of 130.78 and a beta of 0.58.
Several analysts have recently commented on PCYO shares. ValuEngine cut shares of Pure Cycle from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. BidaskClub raised shares of Pure Cycle from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th.
Pure Cycle Profile
Pure Cycle Corporation designs, constructs, operates, and maintains water and wastewater systems in the Denver metropolitan area and Colorado Front Range in the United States. It operates in two segments, Wholesale Water and Wastewater Services, and Land Development Activities. The company offers utility services, including water production, storage, treatment, wastewater collection and treatment, irrigation water treatment and transmission, construction management, billing and collection, and emergency response services, as well as bulk transmission services to retail distribution systems.
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