TSP Capital Management Group LLC Purchases 424,438 Shares of Global Water Resources, Inc. $GWRS

TSP Capital Management Group LLC boosted its position in shares of Global Water Resources, Inc. (NASDAQ:GWRS) by 56.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,182,144 shares of the utilities provider’s stock after purchasing an additional 424,438 shares during the quarter. Global Water Resources comprises 2.2% of TSP Capital Management Group LLC’s holdings, making the stock its 20th biggest position. TSP Capital Management Group LLC owned 4.11% of Global Water Resources worth $8,972,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GWRS. Heartland Advisors Inc. boosted its stake in shares of Global Water Resources by 52.6% in the 4th quarter. Heartland Advisors Inc. now owns 686,500 shares of the utilities provider’s stock valued at $5,801,000 after purchasing an additional 236,500 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in Global Water Resources by 36.5% in the first quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider’s stock valued at $3,153,000 after buying an additional 111,000 shares during the period. Marshall Wace LLP acquired a new position in Global Water Resources in the fourth quarter valued at approximately $609,000. Penn Capital Management Company LLC boosted its stake in Global Water Resources by 37.7% in the third quarter. Penn Capital Management Company LLC now owns 177,978 shares of the utilities provider’s stock valued at $1,833,000 after acquiring an additional 48,739 shares during the last quarter. Finally, Rothschild Wealth LLC bought a new position in Global Water Resources in the fourth quarter valued at approximately $296,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Freedom Capital cut shares of Global Water Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Wall Street Zen raised Global Water Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Global Water Resources in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $15.00.

Global Water Resources Trading Up 0.3%

NASDAQ GWRS opened at $7.26 on Thursday. The firm has a market cap of $208.80 million, a P/E ratio of 103.71 and a beta of 0.92. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.68 and a quick ratio of 0.68. The stock’s 50-day moving average is $7.12 and its 200-day moving average is $7.91. Global Water Resources, Inc. has a one year low of $6.55 and a one year high of $11.17.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Global Water Resources had a return on equity of 3.53% and a net margin of 3.53%.The business had revenue of $13.29 million during the quarter, compared to analyst estimates of $14.09 million. Sell-side analysts anticipate that Global Water Resources, Inc. will post 0.08 earnings per share for the current fiscal year.

Global Water Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a $0.0253 dividend. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, July 17th. Global Water Resources’s dividend payout ratio is 428.57%.

Insider Buying and Selling at Global Water Resources

In related news, CFO Michael J. Liebman bought 7,000 shares of Global Water Resources stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $6.89 per share, with a total value of $48,230.00. Following the purchase, the chief financial officer owned 7,000 shares in the company, valued at approximately $48,230. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christopher D. Krygier purchased 5,389 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $6.87 per share, for a total transaction of $37,022.43. Following the completion of the acquisition, the chief operating officer owned 10,485 shares of the company’s stock, valued at approximately $72,031.95. This represents a 105.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 53.70% of the stock is owned by corporate insiders.

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.