Short Interest in Global Water Resources, Inc. (NASDAQ:GWRS) Increases By 10.5%

Global Water Resources, Inc. (NASDAQ:GWRS) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 103,800 shares, a growth of 10.5% from the August 31st total of 93,900 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 26,800 shares, the short-interest ratio is currently 3.9 days.

Hedge Funds Weigh In On Global Water Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in GWRS. Vanguard Group Inc. lifted its holdings in shares of Global Water Resources by 1.3% during the first quarter. Vanguard Group Inc. now owns 678,279 shares of the utilities provider’s stock valued at $8,709,000 after acquiring an additional 8,960 shares during the period. Renaissance Technologies LLC lifted its holdings in Global Water Resources by 2.6% during the 2nd quarter. Renaissance Technologies LLC now owns 240,447 shares of the utilities provider’s stock valued at $2,909,000 after purchasing an additional 6,000 shares during the last quarter. North Star Investment Management Corp. boosted its position in Global Water Resources by 15.8% in the first quarter. North Star Investment Management Corp. now owns 234,893 shares of the utilities provider’s stock valued at $3,016,000 after buying an additional 32,100 shares in the last quarter. Panagora Asset Management Inc. grew its stake in Global Water Resources by 9.1% during the second quarter. Panagora Asset Management Inc. now owns 96,088 shares of the utilities provider’s stock worth $1,163,000 after buying an additional 8,033 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in Global Water Resources during the second quarter worth about $857,000. 27.91% of the stock is owned by institutional investors.

Global Water Resources Stock Performance

Shares of GWRS stock traded down $0.12 during trading hours on Tuesday, reaching $12.47. 13,772 shares of the company’s stock were exchanged, compared to its average volume of 24,451. Global Water Resources has a fifty-two week low of $9.34 and a fifty-two week high of $13.42. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $301.47 million, a P/E ratio of 47.96, a P/E/G ratio of 3.18 and a beta of 0.97. The business has a fifty day moving average price of $12.53 and a 200-day moving average price of $12.49.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $13.51 million during the quarter, compared to analyst estimates of $13.60 million. Global Water Resources had a return on equity of 13.45% and a net margin of 11.91%. During the same quarter in the prior year, the business earned $0.07 earnings per share. Analysts predict that Global Water Resources will post 0.27 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a $0.025 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, October 17th. Global Water Resources’s dividend payout ratio is 115.38%.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.