Global Water Resources, Inc. (NASDAQ:GWRS) Sees Large Drop in Short Interest

Global Water Resources, Inc. (NASDAQ:GWRS) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 90,900 shares, a drop of 7.7% from the March 15th total of 98,500 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 25,700 shares, the days-to-cover ratio is currently 3.5 days.

Hedge Funds Weigh In On Global Water Resources

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of Global Water Resources by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 107,767 shares of the utilities provider’s stock worth $1,794,000 after purchasing an additional 1,853 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Global Water Resources by 30.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 54,751 shares of the utilities provider’s stock worth $911,000 after purchasing an additional 12,813 shares during the period. State Street Corp grew its stake in shares of Global Water Resources by 1.8% during the 1st quarter. State Street Corp now owns 205,281 shares of the utilities provider’s stock worth $3,416,000 after purchasing an additional 3,693 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Global Water Resources by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 28,485 shares of the utilities provider’s stock worth $474,000 after purchasing an additional 1,123 shares during the period. Finally, Select Equity Group L.P. acquired a new stake in shares of Global Water Resources during the 1st quarter worth approximately $358,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

Global Water Resources Stock Performance

Shares of Global Water Resources stock traded up $0.11 during midday trading on Tuesday, hitting $12.12. The company had a trading volume of 15,553 shares, compared to its average volume of 26,009. Global Water Resources has a 12-month low of $9.34 and a 12-month high of $13.43. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.16. The stock has a market cap of $292.94 million, a price-to-earnings ratio of 36.73, a PEG ratio of 2.62 and a beta of 0.97. The company has a fifty day simple moving average of $12.61 and a 200 day simple moving average of $11.94.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Wednesday, March 6th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Global Water Resources had a net margin of 15.05% and a return on equity of 13.64%. The company had revenue of $12.37 million during the quarter, compared to analyst estimates of $12.00 million. During the same period last year, the firm posted $0.04 EPS. As a group, analysts predict that Global Water Resources will post 0.31 earnings per share for the current fiscal year.

Global Water Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a dividend of $0.025 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Monday, April 15th. Global Water Resources’s dividend payout ratio is presently 90.91%.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.