Global Water Resources (NASDAQ:GWRS) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Global Water Resources from “hold” to “sell,” while Weiss Ratings recently upgraded it to “hold”; the overall analyst consensus remains “hold” with a $15 price target.
• The company reported quarterly EPS of $0.03, below the $0.04 consensus, while revenue of $16.3 million topped expectations of $16.0 million.
• Director Andrew Cohn bought 139,343 shares at an average of $8.85 each, increasing his stake by 5.44%; insiders own 53.7% of the stock.

Global Water Resources (NASDAQ:GWRS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded Global Water Resources from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 31st. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.00.

Global Water Resources Price Performance

NASDAQ:GWRS opened at $7.28 on Friday. The company has a market capitalization of $209.66 million, a P/E ratio of 89.33 and a beta of 0.96. Global Water Resources has a 52 week low of $6.55 and a 52 week high of $10.17. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62. The stock's fifty day moving average is $8.22 and its two-hundred day moving average is $7.86.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The utilities provider reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The firm had revenue of $16.30 million for the quarter, compared to analysts' expectations of $16.00 million. Global Water Resources had a return on equity of 3.05% and a net margin of 5.22%. Equities analysts expect that Global Water Resources will post 0.09 EPS for the current year.

Insider Buying and Selling

In related news, Director Andrew Cohn acquired 139,343 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was acquired at an average cost of $8.85 per share, for a total transaction of $1,233,185.55. Following the completion of the acquisition, the director directly owned 2,701,350 shares of the company's stock, valued at approximately $23,906,947.50. The trade was a 5.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 53.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Water Resources

A number of large investors have recently modified their holdings of the business. Dynamic Advisor Solutions LLC grew its stake 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 during the last quarter. Cullen Capital Management LLC purchased a new position in shares of Global Water Resources during the second quarter worth approximately $242,000. Bank of New York Mellon Corp purchased a new position in shares of Global Water Resources during the second quarter valued at approximately $253,000. TSP Capital Management Group LLC raised its position in shares of Global Water Resources by 9.8% in the 3rd quarter. TSP Capital Management Group LLC now owns 1,471,701 shares of the utilities provider's stock worth $11,700,000 after purchasing an additional 131,396 shares during the last quarter. Finally, Heartland Advisors Inc. grew its position in Global Water Resources by 21.1% in the 1st quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider's stock worth $6,308,000 after purchasing an additional 144,600 shares during the period. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Global Water Resources Company Profile

Global Water Resources, Inc NASDAQ: GWRS is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.

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