Global Water Resources, Inc. (NASDAQ:GWRS) Sees Large Decline in Short Interest

Global Water Resources, Inc. (NASDAQ:GWRS) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 90,900 shares, a decline of 7.7% from the March 15th total of 98,500 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 25,700 shares, the days-to-cover ratio is presently 3.5 days.

Hedge Funds Weigh In On Global Water Resources

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in shares of Global Water Resources by 160.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,998 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,232 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Global Water Resources by 135.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the utilities provider’s stock worth $41,000 after buying an additional 1,803 shares in the last quarter. Citigroup Inc. grew its holdings in Global Water Resources by 9,660.0% in the 2nd quarter. Citigroup Inc. now owns 3,416 shares of the utilities provider’s stock worth $43,000 after buying an additional 3,381 shares in the last quarter. BNP Paribas Arbitrage SNC grew its holdings in Global Water Resources by 47.1% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,612 shares of the utilities provider’s stock worth $54,000 after buying an additional 1,477 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in Global Water Resources in the 4th quarter worth approximately $95,000. 27.91% of the stock is owned by institutional investors.

Global Water Resources Stock Down 1.0 %

Global Water Resources stock traded down $0.12 during midday trading on Wednesday, hitting $12.00. The stock had a trading volume of 4,259 shares, compared to its average volume of 25,713. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.16. The stock has a market cap of $290.04 million, a P/E ratio of 36.73, a P/E/G ratio of 2.58 and a beta of 0.97. Global Water Resources has a 12 month low of $9.34 and a 12 month high of $13.43. The business has a fifty day moving average price of $12.61 and a 200 day moving average price of $11.96.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $12.37 million during the quarter, compared to analyst estimates of $12.00 million. Global Water Resources had a return on equity of 13.64% and a net margin of 15.05%. During the same period in the previous year, the company earned $0.04 earnings per share. Research analysts predict that Global Water Resources will post 0.31 EPS for the current year.

Global Water Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be issued a dividend of $0.025 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, April 15th. Global Water Resources’s dividend payout ratio (DPR) is presently 90.91%.

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.