Global Water Resources (NASDAQ:GWRS - Get Rating) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Friday.
Separately, TheStreet downgraded Global Water Resources from a "b-" rating to a "c+" rating in a report on Tuesday, April 25th.
Global Water Resources Stock Down 1.3 %
NASDAQ GWRS opened at $11.45 on Friday. Global Water Resources has a 52 week low of $10.44 and a 52 week high of $15.00. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.42. The business's fifty day simple moving average is $11.77 and its 200-day simple moving average is $12.88. The firm has a market cap of $273.31 million, a PE ratio of 38.17, a P/E/G ratio of 2.53 and a beta of 0.73.
Global Water Resources (NASDAQ:GWRS - Get Rating) last issued its quarterly earnings data on Wednesday, March 8th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $11.10 million for the quarter, compared to analyst estimates of $11.10 million. Global Water Resources had a net margin of 14.81% and a return on equity of 13.08%. As a group, equities analysts anticipate that Global Water Resources will post 0.31 earnings per share for the current year.
In other news, Director Andrew M. Cohn purchased 2,362 shares of the company's stock in a transaction dated Monday, March 13th. The stock was acquired at an average price of $12.13 per share, for a total transaction of $28,651.06. Following the completion of the transaction, the director now directly owns 2,080,212 shares in the company, valued at approximately $25,232,971.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought a total of 5,835 shares of company stock worth $66,680 over the last 90 days. 54.86% of the stock is currently owned by corporate insiders.
Institutional Trading of Global Water Resources
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWRS. Deutsche Bank AG grew its holdings in Global Water Resources by 59.0% in the 1st quarter. Deutsche Bank AG now owns 8,844 shares of the utilities provider's stock valued at $110,000 after buying an additional 3,280 shares during the period. BNP Paribas Arbitrage SNC raised its position in shares of Global Water Resources by 192.4% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 8,488 shares of the utilities provider's stock valued at $106,000 after purchasing an additional 5,585 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of Global Water Resources in the 4th quarter valued at approximately $95,000. Tower Research Capital LLC TRC increased its holdings in shares of Global Water Resources by 649.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,664 shares of the utilities provider's stock valued at $67,000 after acquiring an additional 4,908 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Global Water Resources by 135.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the utilities provider's stock worth $41,000 after buying an additional 1,803 shares during the last quarter. Hedge funds and other institutional investors own 29.25% of the company's stock.
Global Water Resources Company Profile
Global Water Resources, Inc engages in the operation and management of water, wastewater, and recycled water utilities. It also distributes recycled water throughout the communities through a separate system of pipes. The company was founded by Trevor T. Hill and William S. Levine on September 24, 2003 and is headquartered in Phoenix, AZ.
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