StockNews.com initiated coverage on shares of Global Water Resources (NASDAQ:GWRS – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the utilities provider’s stock.
Separately, TheStreet raised shares of Global Water Resources from a c+ rating to a b- rating in a research report on Thursday, January 19th.
Global Water Resources Stock Up 1.0 %
Shares of Global Water Resources stock opened at $12.72 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.40. The company’s fifty day simple moving average is $13.71 and its two-hundred day simple moving average is $13.12. The company has a market cap of $303.63 million, a P/E ratio of 53.00, a PEG ratio of 3.11 and a beta of 0.73. Global Water Resources has a 12-month low of $10.61 and a 12-month high of $17.35.
Global Water Resources Announces Dividend
In other Global Water Resources news, Director Andrew M. Cohn bought 2,362 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average price of $12.13 per share, for a total transaction of $28,651.06. Following the acquisition, the director now owns 2,080,212 shares in the company, valued at approximately $25,232,971.56. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 45.10% of the company’s stock.
Institutional Trading of Global Water Resources
A number of hedge funds have recently modified their holdings of GWRS. BNP Paribas Arbitrage SA boosted its holdings in shares of Global Water Resources by 135.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the utilities provider’s stock valued at $41,000 after buying an additional 1,803 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in shares of Global Water Resources by 47.1% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,612 shares of the utilities provider’s stock valued at $54,000 after buying an additional 1,477 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Global Water Resources by 649.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,664 shares of the utilities provider’s stock valued at $67,000 after buying an additional 4,908 shares in the last quarter. MetLife Investment Management LLC bought a new position in Global Water Resources in the 4th quarter worth about $95,000. Finally, Bank of America Corp DE boosted its stake in Global Water Resources by 144.4% in the 4th quarter. Bank of America Corp DE now owns 14,985 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 8,853 shares in the last quarter. Institutional investors own 29.25% of the company’s stock.
Global Water Resources Company Profile
Global Water Resources, Inc engages in the operation and management of water, wastewater, and recycled water utilities. It also distributes recycled water throughout the communities through a separate system of pipes. The company was founded by Trevor T. Hill and William S. Levine on September 24, 2003 and is headquartered in Phoenix, AZ.
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