Short Interest in Consolidated Water Co. Ltd. (NASDAQ:CWCO) Expands By 37.0%

Consolidated Water Co. Ltd. (NASDAQ:CWCO) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 802,100 shares, an increase of 37.0% from the March 15th total of 585,500 shares. Currently, 5.4% of the shares of the stock are sold short. Based on an average daily volume of 128,700 shares, the days-to-cover ratio is presently 6.2 days.

Consolidated Water Stock Performance

CWCO opened at $24.23 on Friday. Consolidated Water has a 1 year low of $22.90 and a 1 year high of $30.32. The company’s 50 day simple moving average is $25.98 and its 200 day simple moving average is $25.82. The stock has a market capitalization of $384.65 million, a PE ratio of 14.96, a P/E/G ratio of 2.44 and a beta of 0.27.

Consolidated Water Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 1st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.82%. The ex-dividend date is Tuesday, April 1st. Consolidated Water’s dividend payout ratio (DPR) is presently 27.16%.

Insider Buying and Selling

In related news, CEO Frederick W. Mctaggart sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $28.00, for a total value of $56,000.00. Following the completion of the transaction, the chief executive officer now directly owns 271,995 shares in the company, valued at approximately $7,615,860. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Consolidated Water

Several hedge funds and other institutional investors have recently bought and sold shares of CWCO. Wasatch Advisors LP purchased a new position in shares of Consolidated Water in the fourth quarter valued at $4,443,000. Heartland Advisors Inc. acquired a new position in shares of Consolidated Water in the 4th quarter valued at about $2,833,000. JPMorgan Chase & Co. grew its holdings in shares of Consolidated Water by 54.7% during the third quarter. JPMorgan Chase & Co. now owns 299,102 shares of the utilities provider’s stock valued at $7,540,000 after purchasing an additional 105,711 shares during the last quarter. Millennium Management LLC bought a new position in Consolidated Water during the 4th quarter worth $2,167,000. Finally, Northern Trust Corp increased its position in Consolidated Water by 32.9% in the fourth quarter. Northern Trust Corp now owns 194,024 shares of the utilities provider’s stock worth $5,023,000 after buying an additional 47,982 shares during the period. 55.16% of the stock is owned by institutional investors and hedge funds.

Consolidated Water Company Profile

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.