Global Water Resources (NASDAQ:GWRS) Director Acquires 139,343 Shares of Stock

Key Points

• Director Andrew Cohn bought 139,343 GWRS shares at an average price of $8.85, investing approximately $1.23 million and increasing his ownership by 5.44% to 2.70 million shares.
• Global Water Resources reported quarterly EPS of $0.04, beating estimates by $0.01, while revenue of $17.77 million exceeded expectations of $14.93 million.
• The stock traded at $8.88, and the company declared a monthly dividend of $0.0253, representing a 3.4% annualized yield; analysts maintain a consensus “Reduce” rating despite a $15 price target.

Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) Director Andrew Cohn acquired 139,343 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average cost of $8.85 per share, for a total transaction of $1,233,185.55. Following the purchase, the director 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Global Water Resources Trading Up 0.1%

Shares of NASDAQ:GWRS traded up $0.01 during trading on Friday, reaching $8.88. The stock had a trading volume of 65,883 shares, compared to its average volume of 108,090. The business has a fifty day moving average price of $7.41 and a 200-day moving average price of $7.64. 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 has a market cap of $255.74 million, a P/E ratio of 80.73 and a beta of 0.91. Global Water Resources, Inc. has a fifty-two week low of $6.55 and a fifty-two week high of $11.17.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $17.77 million for the quarter, compared to analyst estimates of $14.93 million. Global Water Resources had a return on equity of 3.05% and a net margin of 5.22%. As a group, analysts anticipate that Global Water Resources, Inc. will post 0.09 earnings per share for the current fiscal year.

Global Water Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.0253 dividend. The ex-dividend date is Monday, August 17th. This represents a c) annualized dividend and a yield of 3.4%. Global Water Resources's dividend payout ratio (DPR) is presently 272.73%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GWRS shares. Weiss Ratings restated a "sell (d+)" rating on shares of Global Water Resources in a research note on Monday. Wall Street Zen upgraded Global Water Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Global Water Resources presently has an average rating of "Reduce" and a consensus price target of $15.00.

Institutional Investors Weigh In On Global Water Resources

Several hedge funds and other institutional investors have recently modified their holdings of GWRS. Cullen Capital Management LLC bought a new stake in shares of Global Water Resources in the 2nd quarter valued at approximately $242,000. Bank of New York Mellon Corp acquired a new position in Global Water Resources in the second quarter worth $253,000. Dynamic Advisor Solutions LLC boosted its holdings in Global Water Resources by 4.0% in the second quarter. Dynamic Advisor Solutions LLC now owns 55,785 shares of the utilities provider's stock worth $404,000 after purchasing an additional 2,133 shares during the period. Heartland Advisors Inc. increased its stake in Global Water Resources by 21.1% during the first quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider's stock valued at $6,308,000 after purchasing an additional 144,600 shares during the last quarter. Finally, TSP Capital Management Group LLC increased its stake in Global Water Resources by 56.0% during the first quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider's stock valued at $8,972,000 after purchasing an additional 424,438 shares during the last quarter. Institutional investors own 27.91% of the company's stock.

Global Water Resources Company Profile

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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