Global Water Resources (NASDAQ:GWRS) Director Acquires 139,343 Shares of Stock

Global Water Resources, Inc. (NASDAQ:GWRSGet Free Report) Director Andrew Cohn acquired 139,343 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average price of $8.85 per share, for a total transaction of $1,233,185.55. Following the purchase, the director owned 2,701,350 shares of the company’s stock, valued at $23,906,947.50. This trade represents a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Global Water Resources Stock Performance

NASDAQ GWRS traded up $0.01 during trading hours on Friday, reaching $8.88. The company’s stock had a trading volume of 65,883 shares, compared to its average volume of 108,090. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.62. The business has a 50-day simple moving average of $7.41 and a 200 day simple moving average of $7.64. Global Water Resources, Inc. has a 52 week low of $6.55 and a 52 week high of $11.17. The stock has a market cap of $255.74 million, a PE ratio of 80.73 and a beta of 0.91.

Global Water Resources (NASDAQ:GWRSGet Free Report) last released its quarterly earnings results on Thursday, August 13th. The utilities provider reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. The business had revenue of $17.77 million during the quarter, compared to analyst estimates of $14.93 million. Equities research analysts predict that Global Water Resources, Inc. will post 0.09 earnings per share for the current fiscal year.

Global Water Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.0253 per share. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 17th. Global Water Resources’s dividend payout ratio (DPR) is presently 272.73%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GWRS shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Global Water Resources in a research note on Monday. Wall Street Zen raised shares of Global Water Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $15.00.

View Our Latest Analysis on GWRS

Institutional Investors Weigh In On Global Water Resources

A number of large investors have recently made changes to their positions in the company. TSP Capital Management Group LLC grew its stake in Global Water Resources by 56.0% in the 1st quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock valued at $8,972,000 after buying an additional 424,438 shares during the last quarter. Heartland Advisors Inc. boosted its holdings in Global Water Resources by 21.1% during the first quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider’s stock valued at $6,308,000 after acquiring an additional 144,600 shares during the period. North Star Investment Management Corp. boosted its holdings in Global Water Resources by 36.5% during the first quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider’s stock valued at $3,153,000 after acquiring an additional 111,000 shares during the period. Bridgeway Capital Management LLC acquired a new stake in shares of Global Water Resources in the fourth quarter valued at about $84,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Global Water Resources in the fourth quarter valued at about $88,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Global Water Resources Company Profile

(Get Free Report)

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.

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