Weiss Ratings Reiterates Hold (C-) Rating for Global Water Resources (NASDAQ:GWRS)

Key Points

• Weiss Ratings has reiterated a "hold (C-)" rating for Global Water Resources (NASDAQ:GWRS), while Wall Street Zen has downgraded the stock from a "hold" to a "sell" rating.
• Global Water Resources reported earnings of $0.06 per share for the last quarter, meeting analysts' expectations and showing a revenue of $14.24 million, slightly above consensus estimates.
• Director Andrew M. Cohn purchased 154,026 shares of Global Water Resources, increasing his stake in the company by 6.45% to a total of 2,540,908 shares.

Global Water Resources (NASDAQ:GWRS - Get Free Report)'s stock had its "hold (c-)" rating restated by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded Global Water Resources from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Global Water Resources presently has a consensus rating of "Hold".

Global Water Resources Stock Performance

GWRS stock opened at $10.77 on Wednesday. The business's fifty day moving average is $9.89 and its 200-day moving average is $10.15. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.54. The company has a market cap of $295.85 million, a P/E ratio of 48.96 and a beta of 1.06. Global Water Resources has a twelve month low of $9.27 and a twelve month high of $13.98.

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

Insider Activity

In other news, Director Andrew M. Cohn purchased 154,026 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $10.30 per share, with a total value of $1,586,467.80. Following the purchase, the director directly owned 2,540,908 shares of the company's stock, valued at $26,171,352.40. This trade represents a 6.45% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 54.30% of the stock is owned by corporate insiders.

Institutional Trading of Global Water Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Global Water Resources in the 1st quarter valued at about $341,000. Rhumbline Advisers grew its holdings in shares of Global Water Resources by 12.0% in the 1st quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock valued at $181,000 after acquiring an additional 1,884 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Global Water Resources by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,024 shares of the utilities provider's stock valued at $1,062,000 after acquiring an additional 17,257 shares in the last quarter. Redmond Asset Management LLC grew its holdings in shares of Global Water Resources by 202.3% in the 1st quarter. Redmond Asset Management LLC now owns 134,496 shares of the utilities provider's stock valued at $1,387,000 after acquiring an additional 90,000 shares in the last quarter. Finally, Pentwater Capital Management LP bought a new position in shares of Global Water Resources in the 1st quarter valued at about $361,000. Institutional investors and hedge funds own 27.91% of the company's stock.

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.

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