Global Water Resources (NASDAQ:GWRS) Director Purchases $1,586,467.80 in Stock

Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew Cohn purchased 154,026 shares of Global Water Resources stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $10.30 per share, with a total value of $1,586,467.80. Following the transaction, the director directly owned 2,540,908 shares of the company’s stock, valued at approximately $26,171,352.40. The trade was a 6.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Global Water Resources Trading Down 1.5%

Global Water Resources stock opened at $10.61 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50-day simple moving average is $9.91 and its 200-day simple moving average is $10.15. The firm has a market capitalization of $291.49 million, a PE ratio of 48.23 and a beta of 1.06. Global Water Resources, Inc. has a 52 week low of $9.27 and a 52 week high of $13.98.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings data on Wednesday, August 13th. The utilities provider reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $14.24 million for the quarter, compared to analyst estimates of $14.20 million. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%. Equities research analysts forecast that Global Water Resources, Inc. will post 0.28 earnings per share for the current year.

Global Water Resources Dividend Announcement

The firm also recently disclosed a oct 25 dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a $0.0253 dividend. The ex-dividend date is Friday, October 17th. This represents a dividend yield of 295.0%. Global Water Resources’s payout ratio is presently 136.36%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GWRS shares. Wall Street Zen lowered Global Water Resources from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Global Water Resources in a research note on Wednesday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Global Water Resources

Institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in Global Water Resources during the second quarter valued at approximately $27,000. Tower Research Capital LLC TRC boosted its holdings in 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 valued at $40,000 after purchasing an additional 2,812 shares in the last quarter. Jane Street Group LLC acquired a new stake in Global Water Resources during the first quarter valued at approximately $109,000. Blair William & Co. IL acquired a new stake in Global Water Resources during the first quarter valued at approximately $113,000. Finally, Atria Investments Inc acquired a new stake in Global Water Resources during the second quarter valued at approximately $160,000. 27.91% of the stock is owned by institutional investors and hedge funds.

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.