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

Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew Cohn purchased 139,343 shares of Global Water Resources stock in a transaction dated Thursday, August 20th. The stock was acquired at an average price of $8.85 per share, with a total value of $1,233,185.55. Following the acquisition, the director owned 2,701,350 shares in the company, valued at approximately $23,906,947.50. This represents a 5.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Global Water Resources Stock Up 0.1%

Global Water Resources stock opened at $8.88 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62. The firm has a market cap of $255.74 million, a P/E ratio of 80.73 and a beta of 0.91. The business has a fifty day moving average of $7.41 and a two-hundred day moving average of $7.64. Global Water Resources, Inc. has a twelve month low of $6.55 and a twelve month high of $11.17.

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

Global Water Resources Announces Dividend

The business 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 $0.0253 dividend. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, August 17th. Global Water Resources’s payout ratio is 272.73%.

Institutional Trading of Global Water Resources

Institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its position in Global Water Resources by 75,025.0% during the 3rd quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock valued at $31,000 after buying an additional 3,001 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Global Water Resources by 152.6% in the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 2,091 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Global Water Resources by 258.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 2,812 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Global Water Resources by 120.9% during the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 2,601 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Global Water Resources during the fourth quarter valued at about $84,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GWRS shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Global Water Resources in a research report on Monday. Wall Street Zen raised shares of Global Water Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $15.00.

About Global Water Resources

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.