Penn Capital Management Company LLC Purchases Shares of 31,520 Global Water Resources, Inc. $GWRS

Key Points

• Penn Capital Management Company LLC invested approximately $325,000 in Global Water Resources, acquiring 31,520 shares, which represents about 0.12% ownership in the company.
• Wall Street Zen downgraded Global Water Resources from a "hold" rating to a "sell" rating on August 16th, as analysts predict 0.28 earnings per share for the current year.
• The company announced a dividend of $0.0253 per share to be paid on August 29th, reflecting a remarkable dividend yield of 310.0%.

Penn Capital Management Company LLC purchased a new position in shares of Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 31,520 shares of the utilities provider's stock, valued at approximately $325,000. Penn Capital Management Company LLC owned approximately 0.12% of Global Water Resources at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Blair William & Co. IL bought a new stake in Global Water Resources during the 1st quarter worth approximately $113,000. Deutsche Bank AG grew its position in Global Water Resources by 4,273.8% in the fourth quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider's stock valued at $173,000 after acquiring an additional 14,659 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Global Water Resources by 12.0% during the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock valued at $181,000 after purchasing an additional 1,884 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Global Water Resources by 7.0% during the fourth quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider's stock valued at $232,000 after purchasing an additional 1,327 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Global Water Resources by 61.8% in the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider's stock worth $282,000 after acquiring an additional 9,370 shares during the period. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Global Water Resources Stock Performance

Global Water Resources stock traded down $0.03 during mid-day trading on Friday, reaching $9.68. 14,526 shares of the stock traded hands, compared to its average volume of 46,885. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.09 and a quick ratio of 1.09. The business's 50-day moving average is $10.09 and its 200-day moving average is $10.42. The stock has a market capitalization of $266.02 million, a PE ratio of 43.98, a price-to-earnings-growth ratio of 2.93 and a beta of 1.05. Global Water Resources, Inc. has a 12-month low of $9.37 and a 12-month high of $13.98.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last released its earnings results on Wednesday, August 13th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $14.24 million during the quarter, compared to analysts' expectations of $14.20 million. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%. As a group, sell-side analysts predict that Global Water Resources, Inc. will post 0.28 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The business also recently declared a sep 25 dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.0253 dividend. Global Water Resources's dividend payout ratio is presently 136.36%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Global Water Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 16th.

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.