Global Water Resources, Inc. (NASDAQ:GWRS) Short Interest Update

Global Water Resources, Inc. (NASDAQ:GWRS) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 93,900 shares, a drop of 5.4% from the August 15th total of 99,300 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 24,500 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Investors Weigh In On Global Water Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new position in Global Water Resources during the second quarter worth $857,000. Panagora Asset Management Inc. grew its position in Global Water Resources by 9.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 96,088 shares of the utilities provider’s stock valued at $1,163,000 after acquiring an additional 8,033 shares in the last quarter. North Star Investment Management Corp. grew its position in Global Water Resources by 15.8% in the 1st quarter. North Star Investment Management Corp. now owns 234,893 shares of the utilities provider’s stock valued at $3,016,000 after acquiring an additional 32,100 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Global Water Resources by 2.6% during the second quarter. Renaissance Technologies LLC now owns 240,447 shares of the utilities provider’s stock worth $2,909,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Global Water Resources by 1.3% during the first quarter. Vanguard Group Inc. now owns 678,279 shares of the utilities provider’s stock worth $8,709,000 after purchasing an additional 8,960 shares in the last quarter. 27.91% of the stock is owned by hedge funds and other institutional investors.

Global Water Resources Trading Up 2.6 %

Shares of GWRS opened at $13.25 on Friday. Global Water Resources has a 12-month low of $9.34 and a 12-month high of $13.42. The firm has a market capitalization of $320.33 million, a P/E ratio of 50.96, a P/E/G ratio of 3.17 and a beta of 0.97. The firm has a 50-day moving average price of $12.54 and a 200 day moving average price of $12.49. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 2.53.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $13.51 million during the quarter, compared to analyst estimates of $13.60 million. Global Water Resources had a net margin of 11.91% and a return on equity of 13.45%. During the same quarter in the prior year, the company posted $0.07 earnings per share. Sell-side analysts forecast that Global Water Resources will post 0.27 EPS for the current year.

Global Water Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.025 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, September 16th. Global Water Resources’s dividend payout ratio is presently 115.38%.

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.