Global Water Resources (NASDAQ:GWRS) Director Buys $1,233,185.55 in Stock

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

Global Water Resources Stock Performance

GWRS opened at $8.88 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62. Global Water Resources, Inc. has a 12-month low of $6.55 and a 12-month high of $11.17. The business has a 50 day moving average of $7.41 and a 200-day moving average of $7.63. The stock has a market cap of $255.70 million, a price-to-earnings ratio of 80.73 and a beta of 0.91.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Thursday, August 13th. The utilities provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Global Water Resources had a return on equity of 3.05% and a net margin of 5.22%.The business had revenue of $17.77 million for the quarter, compared to analyst estimates of $14.93 million. On average, equities research analysts expect that Global Water Resources, Inc. will post 0.09 earnings per share for the current year.

Global Water Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a $0.0253 dividend. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, August 17th. Global Water Resources’s payout ratio is currently 272.73%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GWRS. Weiss Ratings reissued a “sell (d+)” rating on shares of Global Water Resources in a research report on Monday, August 17th. Wall Street Zen raised shares of Global Water Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $15.00.

Institutional Trading of Global Water Resources

Hedge funds have recently added to or reduced their stakes in the company. Cullen Capital Management LLC bought a new stake in Global Water Resources in the 2nd quarter valued at $242,000. Bank of New York Mellon Corp bought a new position in Global Water Resources during the 2nd quarter worth $253,000. Dynamic Advisor Solutions LLC lifted its holdings in shares of Global Water Resources by 4.0% during the second quarter. Dynamic Advisor Solutions LLC now owns 55,785 shares of the utilities provider’s stock worth $404,000 after buying an additional 2,133 shares in the last quarter. Heartland Advisors Inc. lifted its holdings in shares of Global Water Resources by 21.1% during the first quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider’s stock worth $6,308,000 after buying an additional 144,600 shares in the last quarter. Finally, TSP Capital Management Group LLC lifted its holdings in shares of Global Water Resources by 56.0% during the first quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock worth $8,972,000 after buying an additional 424,438 shares in the last quarter. 27.91% of the stock is owned by institutional investors and hedge funds.

Global Water Resources Company Profile

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.