TSP Capital Management Group LLC Acquires 424,438 Shares of Global Water Resources, Inc. $GWRS

TSP Capital Management Group LLC increased its holdings in shares of Global Water Resources, Inc. (NASDAQ:GWRS) by 56.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,182,144 shares of the utilities provider’s stock after purchasing an additional 424,438 shares during the quarter. Global Water Resources makes up about 2.2% of TSP Capital Management Group LLC’s investment portfolio, making the stock its 20th biggest holding. TSP Capital Management Group LLC’s holdings in Global Water Resources were worth $8,972,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in Global Water Resources by 20.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,024 shares of the utilities provider’s stock worth $1,062,000 after buying an additional 17,257 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Global Water Resources in the first quarter valued at about $109,000. Rhumbline Advisers increased its position in shares of Global Water Resources by 12.0% in the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock valued at $181,000 after acquiring an additional 1,884 shares during the last quarter. Geode Capital Management LLC raised its holdings in Global Water Resources by 10.3% during the second quarter. Geode Capital Management LLC now owns 299,330 shares of the utilities provider’s stock worth $3,050,000 after acquiring an additional 27,850 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Global Water Resources by 30.7% during the second quarter. Bank of America Corp DE now owns 40,661 shares of the utilities provider’s stock valued at $414,000 after purchasing an additional 9,539 shares during the last quarter. Institutional investors own 27.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GWRS shares. Wall Street Zen upgraded Global Water Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Global Water Resources in a research report on Wednesday, May 20th. Finally, Freedom Capital cut shares of Global Water Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $15.00.

Global Water Resources Stock Performance

Shares of NASDAQ GWRS opened at $7.26 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $208.80 million, a P/E ratio of 103.71 and a beta of 0.92. Global Water Resources, Inc. has a 12 month low of $6.55 and a 12 month high of $11.17. The stock has a 50 day moving average of $7.12 and a 200-day moving average of $7.91.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Global Water Resources had a return on equity of 3.53% and a net margin of 3.53%.The business had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $14.09 million. As a group, equities research analysts predict that Global Water Resources, Inc. will post 0.08 EPS for the current year.

Global Water Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.0253 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, July 17th. Global Water Resources’s dividend payout ratio (DPR) is currently 428.57%.

Insider Transactions at Global Water Resources

In related news, CFO Michael J. Liebman purchased 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $6.89 per share, for a total transaction of $48,230.00. Following the purchase, the chief financial officer owned 7,000 shares in the company, valued at approximately $48,230. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christopher D. Krygier purchased 5,389 shares of the stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $6.87 per share, for a total transaction of $37,022.43. Following the completion of the acquisition, the chief operating officer owned 10,485 shares in the company, valued at approximately $72,031.95. This trade represents a 105.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 53.70% of the company’s stock.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.