Global Water Resources (NASDAQ:GWRS) CFO Michael Liebman Acquires 7,000 Shares of Stock

Global Water Resources, Inc. (NASDAQ:GWRS) CFO Michael Liebman acquired 7,000 shares of Global Water Resources stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $6.89 per share, for a total transaction of $48,230.00. Following the completion of the acquisition, the chief financial officer owned 7,000 shares in the company, valued at $48,230. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Global Water Resources Stock Up 3.3%

Shares of GWRS opened at $7.22 on Friday. The firm has a market cap of $207.65 million, a P/E ratio of 103.14 and a beta of 0.92. Global Water Resources, Inc. has a 12-month low of $6.55 and a 12-month high of $11.17. The company’s 50-day moving average price is $7.36 and its 200 day moving average price is $8.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59.

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. The firm had revenue of $13.29 million for the quarter, compared to analyst estimates of $14.09 million. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. On average, sell-side analysts forecast that Global Water Resources, Inc. will post 0.08 earnings per share for the current year.

Global Water Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a $0.0253 dividend. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, May 15th. Global Water Resources’s payout ratio is 428.57%.

Hedge Funds Weigh In On Global Water Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB grew its position in shares of Global Water Resources by 1.5% during the third quarter. Handelsbanken Fonder AB now owns 1,700,000 shares of the utilities provider’s stock worth $17,510,000 after buying an additional 25,000 shares in the last quarter. TSP Capital Management Group LLC grew its position in shares of Global Water Resources by 56.0% during the first quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock worth $8,972,000 after buying an additional 424,438 shares in the last quarter. Heartland Advisors Inc. grew its position in shares of Global Water Resources by 21.1% during the first quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider’s stock worth $6,308,000 after buying an additional 144,600 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Global Water Resources by 36.5% during the first quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider’s stock worth $3,153,000 after buying an additional 111,000 shares in the last quarter. Finally, Redmond Asset Management LLC grew its position in shares of Global Water Resources by 0.5% during the third quarter. Redmond Asset Management LLC now owns 330,272 shares of the utilities provider’s stock worth $3,402,000 after buying an additional 1,685 shares in the last quarter. 27.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GWRS. Weiss Ratings reiterated a “sell (d+)” rating on shares of Global Water Resources in a research note on Wednesday. Freedom Capital lowered shares of Global Water Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average 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.