Andrew Cohn Purchases 139,343 Shares of Global Water Resources (NASDAQ:GWRS) Stock

Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew Cohn purchased 139,343 shares of the stock in a transaction dated Thursday, August 20th. The shares were purchased at an average price of $8.85 per share, with a total value of $1,233,185.55. Following the transaction, the director directly 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 position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Global Water Resources Trading Up 0.1%

Shares of NASDAQ:GWRS opened at $8.88 on Friday. The company has a market cap of $255.74 million, a PE ratio of 80.73 and a beta of 0.91. The company’s 50-day moving average price is $7.41 and its 200 day moving average price is $7.64. Global Water Resources, Inc. has a fifty-two week low of $6.55 and a fifty-two week high of $11.17. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62.

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

Global Water Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.0253 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) annualized dividend and a yield of 3.4%. Global Water Resources’s payout ratio is presently 272.73%.

Institutional Investors Weigh In On Global Water Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its holdings in Global Water Resources by 75,025.0% in the 3rd quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 3,001 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Global Water Resources by 152.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 2,091 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Global Water Resources by 258.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 2,812 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Global Water Resources by 120.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 2,601 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Global Water Resources in the 4th quarter worth approximately $84,000. 27.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Global Water Resources in a research note on Monday, August 17th. Wall Street Zen raised shares of Global Water Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $15.00.

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.