Global Water Resources (GWRS) Stock Rating Lowered by Zacks Investment Research

Global Water Resources (NASDAQ:GWRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

Global Water Resources (GWRS) traded down $0.09 during trading on Wednesday, hitting $9.08. 18,800 shares of the stock were exchanged, compared to its average volume of 19,533. Global Water Resources has a 12-month low of $7.90 and a 12-month high of $10.00. The company has a debt-to-equity ratio of 8.55, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $180.02, a P/E ratio of 113.51, a PEG ratio of 5.09 and a beta of 0.24.

In other Global Water Resources news, Director William S. Levine bought 2,826,615 shares of Global Water Resources stock in a transaction dated Monday, December 18th. The shares were purchased at an average cost of $9.29 per share, for a total transaction of $26,259,253.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Trevor T. Hill sold 3,206 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $9.76, for a total transaction of $31,290.56. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 2,829,598 shares of company stock worth $26,286,789 and sold 8,193 shares worth $80,116. Insiders own 49.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC boosted its stake in shares of Global Water Resources by 35.1% during the 3rd quarter. Manchester Capital Management LLC now owns 66,999 shares of the utilities provider’s stock worth $631,000 after purchasing an additional 17,400 shares during the period. D.A. Davidson & CO. purchased a new position in shares of Global Water Resources during the 3rd quarter worth about $197,000. WFG Advisors LP boosted its stake in shares of Global Water Resources by 9.9% during the 2nd quarter. WFG Advisors LP now owns 28,936 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 2,599 shares during the period. California State Teachers Retirement System boosted its stake in shares of Global Water Resources by 6.5% during the 2nd quarter. California State Teachers Retirement System now owns 17,958 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 1,100 shares during the period. Finally, State Street Corp boosted its stake in shares of Global Water Resources by 15.8% during the 2nd quarter. State Street Corp now owns 100,674 shares of the utilities provider’s stock worth $997,000 after purchasing an additional 13,733 shares during the period. 16.82% of the stock is owned by hedge funds and other institutional investors.

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About Global Water Resources

Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.

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