Heartland Advisors Inc. Has $6.31 Million Stock Position in Global Water Resources, Inc. $GWRS

Key Points

• Heartland Advisors boosted its stake in Global Water Resources by 21.1% in the first quarter, ending with 831,100 shares worth about $6.31 million.
• Several other institutional investors also increased or initiated positions, and institutional ownership now stands at 27.91% while insiders own 53.70% of the stock.
• Global Water Resources reported a small quarterly loss of ($0.01) EPS but beat estimates, and it also announced a monthly dividend yielding about 4.3%, though analysts currently rate the stock Reduce.

Heartland Advisors Inc. raised its holdings in shares of Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) by 21.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 831,100 shares of the utilities provider's stock after acquiring an additional 144,600 shares during the quarter. Heartland Advisors Inc. owned approximately 2.89% of Global Water Resources worth $6,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TSP Capital Management Group LLC lifted its position in shares of Global Water Resources by 56.0% in 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 purchasing an additional 424,438 shares in the last quarter. North Star Investment Management Corp. grew its position in Global Water Resources by 36.5% in 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 purchasing an additional 111,000 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in Global Water Resources in the 4th quarter valued at $107,000. Millennium Management LLC acquired a new stake in Global Water Resources in the 4th quarter valued at $153,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Global Water Resources in the 4th quarter valued at $84,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Global Water Resources news, COO Christopher D. Krygier purchased 5,389 shares of Global Water Resources stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $6.87 per share, for a total transaction of $37,022.43. Following the completion of the acquisition, the chief operating officer owned 10,485 shares of the company's stock, valued at approximately $72,031.95. This trade represents a 105.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael J. Liebman purchased 7,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $6.89 per share, for a total transaction of $48,230.00. Following the transaction, the chief financial officer owned 7,000 shares of the company's stock, valued at approximately $48,230. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 53.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GWRS has been the subject of a number of recent research reports. Weiss Ratings restated a "sell (d+)" rating on shares of Global Water Resources in a research note on Wednesday, May 20th. Wall Street Zen raised Global Water Resources from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $15.00.

Global Water Resources Stock Performance

NASDAQ GWRS opened at $7.07 on Monday. Global Water Resources, Inc. has a 12 month low of $6.55 and a 12 month high of $11.17. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. The stock has a 50 day moving average of $7.09 and a 200-day moving average of $7.79. The company has a market cap of $203.33 million, a PE ratio of 101.00 and a beta of 0.92.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last issued its earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. The business had revenue of $13.29 million for the quarter, compared to the consensus estimate of $14.09 million. On average, equities research analysts anticipate that Global Water Resources, Inc. will post 0.08 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.0253 per share. The ex-dividend date is Friday, July 17th. This represents a c) annualized dividend and a dividend yield of 4.3%. Global Water Resources's payout ratio is currently 428.57%.

About Global Water Resources

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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