Penn Capital Management Company LLC Invests $325,000 in 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 acquired a new position in shares of Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 31,520 shares of the utilities provider's stock, valued at approximately $325,000. Penn Capital Management Company LLC owned about 0.12% of Global Water Resources as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Global Water Resources Price Performance

Shares of NASDAQ:GWRS opened at $10.03 on Friday. The firm has a market capitalization of $275.52 million, a PE ratio of 45.59, a PEG ratio of 3.04 and a beta of 1.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.54. Global Water Resources, Inc. has a 1-year low of $9.37 and a 1-year high of $13.98. The business's 50 day moving average is $10.14 and its 200-day moving average is $10.46.

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

Global Water Resources Announces Dividend

The firm also recently disclosed a aug 25 dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.0253 per share. This represents a dividend yield of 310.0%. The ex-dividend date of this dividend is Friday, August 15th. Global Water Resources's dividend payout ratio (DPR) is presently 136.36%.

Global Water Resources Company Profile

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.

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