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

Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew M. Cohn bought 252,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average price of $10.00 per share, for a total transaction of $2,520,000.00. Following the purchase, the director now owns 2,379,899 shares in the company, valued at $23,798,990. This represents a 11.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Global Water Resources Price Performance

NASDAQ:GWRS opened at $10.36 on Wednesday. The business’s 50-day simple moving average is $11.28 and its two-hundred day simple moving average is $12.02. Global Water Resources, Inc. has a 52 week low of $9.79 and a 52 week high of $13.98. The stock has a market cap of $250.98 million, a PE ratio of 38.37, a P/E/G ratio of 2.53 and a beta of 1.01. The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 2.47.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Wednesday, March 5th. The utilities provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $12.70 million. As a group, analysts forecast that Global Water Resources, Inc. will post 0.28 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a dividend of $0.0253 per share. The ex-dividend date is Wednesday, April 16th. This represents a $0.30 annualized dividend and a yield of 2.93%. Global Water Resources’s payout ratio is 125.00%.

Institutional Investors Weigh In On Global Water Resources

Large investors have recently made changes to their positions in the company. Wesbanco Bank Inc. bought a new position in shares of Global Water Resources during the 4th quarter valued at approximately $356,000. Barclays PLC boosted its stake in Global Water Resources by 89.3% during the third quarter. Barclays PLC now owns 31,663 shares of the utilities provider’s stock worth $400,000 after buying an additional 14,936 shares during the period. State Street Corp increased its position in Global Water Resources by 0.7% during the third quarter. State Street Corp now owns 220,872 shares of the utilities provider’s stock valued at $2,781,000 after acquiring an additional 1,496 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Global Water Resources in the 4th quarter worth about $327,000. Finally, Geode Capital Management LLC boosted 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 worth $3,431,000 after purchasing an additional 8,593 shares during the period. 27.91% of the stock is owned by institutional investors.

About Global Water Resources

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.