Insider Buying: Global Water Resources, Inc. (NASDAQ:GWRS) Director Acquires 252,000 Shares of Stock

Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) Director Andrew M. Cohn acquired 252,000 shares of the stock in a transaction on Thursday, March 27th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $2,520,000.00. Following the transaction, the director now owns 2,379,899 shares of the company's stock, valued at approximately $23,798,990. This trade represents a 11.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Global Water Resources Stock Performance

NASDAQ GWRS traded down $0.16 on Friday, hitting $9.77. 71,100 shares of the stock traded hands, compared to its average volume of 27,358. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.63 and a current ratio of 1.62. The business's fifty day moving average is $11.16 and its two-hundred day moving average is $11.97. Global Water Resources, Inc. has a 12 month low of $9.64 and a 12 month high of $13.98. The firm has a market capitalization of $264.04 million, a price-to-earnings ratio of 36.19, a PEG ratio of 2.53 and a beta of 1.01.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The utilities provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. The firm had revenue of $13.29 million for the quarter, compared to the consensus estimate of $12.70 million. As a group, equities analysts anticipate that Global Water Resources, Inc. will post 0.28 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a $0.0253 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $0.30 annualized dividend and a dividend yield of 3.11%. Global Water Resources's payout ratio is 125.00%.

Institutional Trading of Global Water Resources

A number of institutional investors have recently modified their holdings of the business. Handelsbanken Fonder AB raised its holdings in Global Water Resources by 0.7% during the 4th quarter. Handelsbanken Fonder AB now owns 1,370,000 shares of the utilities provider's stock valued at $15,755,000 after acquiring an additional 10,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Global Water Resources by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 272,509 shares of the utilities provider's stock valued at $3,431,000 after purchasing an additional 8,593 shares during the period. Renaissance Technologies LLC lifted its holdings in Global Water Resources by 2.9% during the 4th quarter. Renaissance Technologies LLC now owns 256,552 shares of the utilities provider's stock worth $2,950,000 after purchasing an additional 7,186 shares in the last quarter. State Street Corp lifted its holdings in Global Water Resources by 0.7% during the 3rd quarter. State Street Corp now owns 220,872 shares of the utilities provider's stock worth $2,781,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Global Water Resources by 0.5% in the 4th quarter. Wells Fargo & Company MN now owns 211,216 shares of the utilities provider's stock worth $2,429,000 after purchasing an additional 1,130 shares during the period. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

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.