Global Water Resources, Inc. (NASDAQ:GWRS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

Separately, Roth Capital set a $11.00 target price on shares of Global Water Resources and gave the company a “buy” rating in a research note on Saturday, May 27th.

Shares of Global Water Resources (GWRS) traded up 0.43% during midday trading on Friday, reaching $9.44. 45,589 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $9.68 and its 200-day moving average is $9.02. The stock has a market cap of $185.08 million, a PE ratio of 115.12 and a beta of 0.31. Global Water Resources has a 12-month low of $7.50 and a 12-month high of $10.00.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Tuesday, August 8th. The utilities provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Global Water Resources had a net margin of 5.05% and a return on equity of 10.14%. The firm had revenue of $8.15 million during the quarter, compared to analysts’ expectations of $7.90 million. On average, equities analysts expect that Global Water Resources will post $0.09 EPS for the current year.

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In other news, Director William S. Levine bought 20,000 shares of Global Water Resources stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average price of $8.55 per share, with a total value of $171,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director L Rita Theil sold 25,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $9.23, for a total transaction of $230,750.00. Following the completion of the sale, the director now directly owns 2,666 shares in the company, valued at approximately $24,607.18. The disclosure for this sale can be found here. In the last three months, insiders bought 20,501 shares of company stock worth $175,824.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Global Water Resources by 35.4% in the second quarter. Vanguard Group Inc. now owns 340,929 shares of the utilities provider’s stock valued at $3,376,000 after buying an additional 89,201 shares in the last quarter. Bard Associates Inc. increased its stake in shares of Global Water Resources by 1.0% in the second quarter. Bard Associates Inc. now owns 203,325 shares of the utilities provider’s stock valued at $2,013,000 after buying an additional 2,000 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Global Water Resources by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 155,622 shares of the utilities provider’s stock valued at $1,541,000 after buying an additional 9,281 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Global Water Resources by 11.2% in the second quarter. North Star Investment Management Corp. now owns 104,275 shares of the utilities provider’s stock valued at $1,032,000 after buying an additional 10,500 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Global Water Resources by 30.8% in the second quarter. Northern Trust Corp now owns 97,578 shares of the utilities provider’s stock valued at $966,000 after buying an additional 22,960 shares in the last quarter. 16.77% of the stock is currently owned by institutional investors and hedge funds.

About Global Water Resources

Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.

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