Short Interest in Global Water Resources, Inc. (NASDAQ:GWRS) Declines By 14.5%

Global Water Resources, Inc. (NASDAQ:GWRS) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 80,400 shares, a drop of 14.5% from the June 30th total of 94,000 shares. Based on an average trading volume of 22,700 shares, the days-to-cover ratio is presently 3.5 days. Currently, 0.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Global Water Resources

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC purchased a new position in Global Water Resources in the 2nd quarter worth approximately $857,000. Panagora Asset Management Inc. increased its position in shares of Global Water Resources by 9.1% during the second quarter. Panagora Asset Management Inc. now owns 96,088 shares of the utilities provider’s stock worth $1,163,000 after acquiring an additional 8,033 shares during the last quarter. Vanguard Group Inc. increased 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 acquiring an additional 8,960 shares during the last quarter. North Star Investment Management Corp. increased its position in shares of Global Water Resources by 15.8% during the first quarter. North Star Investment Management Corp. now owns 234,893 shares of the utilities provider’s stock worth $3,016,000 after acquiring an additional 32,100 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of Global Water Resources by 70.7% during the fourth quarter. Manchester Capital Management LLC now owns 49,093 shares of the utilities provider’s stock worth $642,000 after acquiring an additional 20,325 shares during the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Global Water Resources Trading Down 0.5 %

NASDAQ GWRS traded down $0.07 during trading hours on Wednesday, hitting $12.93. 34,799 shares of the company’s stock were exchanged, compared to its average volume of 24,350. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market capitalization of $312.65 million, a P/E ratio of 49.58, a price-to-earnings-growth ratio of 3.02 and a beta of 0.98. The business’s 50 day moving average is $12.41 and its 200-day moving average is $12.50. Global Water Resources has a 12-month low of $9.34 and a 12-month high of $13.42.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. Global Water Resources had a return on equity of 13.32% and a net margin of 12.05%. The business had revenue of $11.61 million during the quarter, compared to the consensus estimate of $11.50 million. As a group, analysts anticipate that Global Water Resources will post 0.28 EPS for the current fiscal year.

Global Water Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a $0.025 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, July 17th. Global Water Resources’s dividend payout ratio is presently 115.39%.

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.