Global Water Resources (NASDAQ:GWRS) Shares Cross Below 200 Day Moving Average – Here’s Why

Global Water Resources, Inc. (NASDAQ:GWRS)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $7.90 and traded as low as $7.77. Global Water Resources shares last traded at $7.79, with a volume of 53,683 shares traded.

Wall Street Analysts Forecast Growth

GWRS has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Global Water Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 31st. Wall Street Zen raised Global Water Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.00.

Global Water Resources Price Performance

The company has a debt-to-equity ratio of 1.62, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $224.31 million, a P/E ratio of 70.82 and a beta of 0.95. The company has a fifty day simple moving average of $8.44 and a 200-day simple moving average of $7.90.

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

Global Water Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $0.0253 dividend. This represents a $0.30 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, October 16th. Global Water Resources’s dividend payout ratio (DPR) is presently 272.73%.

Insider Buying and Selling at Global Water Resources

In other news, Director Andrew Cohn bought 139,343 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were acquired at an average cost of $8.85 per share, with a total value of $1,233,185.55. Following the completion of the transaction, the director directly owned 2,701,350 shares in the company, valued at approximately $23,906,947.50. The trade was a 5.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 53.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global Water Resources

Several hedge funds have recently made changes to their positions in GWRS. TSP Capital Management Group LLC boosted its stake in Global Water Resources by 56.0% in the 1st quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock worth $8,972,000 after purchasing an additional 424,438 shares during the period. Heartland Advisors Inc. grew its position in Global Water Resources by 21.1% during the 1st quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider’s stock worth $6,308,000 after purchasing an additional 144,600 shares in the last quarter. North Star Investment Management Corp. grew its position in Global Water Resources by 36.5% during the 1st quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider’s stock worth $3,153,000 after purchasing an additional 111,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Global Water Resources during the 2nd quarter valued at $253,000. Finally, Cullen Capital Management LLC acquired a new stake in Global Water Resources during the 2nd quarter valued at $242,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.