Global Water Resources (NASDAQ:GWRS) Shares Cross Below 200-Day Moving Average – What’s Next?

Global Water Resources, Inc. (NASDAQ:GWRS)’s share price passed 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.

Wall Street Analyst Weigh In

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

Global Water Resources Price Performance

The company has a market cap of $223.78 million, a price-to-earnings ratio of 70.64 and a beta of 0.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62. The company’s fifty day moving average price is $8.40 and its two-hundred day moving average price is $7.89.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Thursday, August 13th. The utilities provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $17.77 million for the quarter, compared to analyst estimates of $14.93 million. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. On average, equities research analysts forecast that Global Water Resources, Inc. will post 0.09 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

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

Insider Buying and Selling at Global Water Resources

In other news, Director Andrew Cohn acquired 139,343 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $8.85 per share, for a total transaction of $1,233,185.55. Following the completion of the acquisition, the director owned 2,701,350 shares in the company, valued at $23,906,947.50. This represents a 5.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 53.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Water Resources

Institutional investors have recently bought and sold shares of the company. TSP Capital Management Group LLC raised its holdings in shares of Global Water Resources by 9.8% in the third quarter. TSP Capital Management Group LLC now owns 1,471,701 shares of the utilities provider’s stock valued at $11,700,000 after purchasing an additional 131,396 shares during the last quarter. Heartland Advisors Inc. boosted its holdings in Global Water Resources by 21.1% during the first 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 during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Global Water Resources by 4.0% during the second quarter. Dynamic Advisor Solutions LLC now owns 55,785 shares of the utilities provider’s stock worth $404,000 after purchasing an additional 2,133 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Global Water Resources during the second quarter worth $253,000. Finally, Cullen Capital Management LLC bought a new position in Global Water Resources in the second quarter valued at $242,000. Institutional investors own 27.91% of the company’s stock.

About Global Water Resources

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.