In a recent transaction on May 31, Steven D. Brill, Vice President of IT Operations at Global Water Resources, Inc. (NASDAQ:GWRS), purchased shares of the company's common stock. The transaction was disclosed through a regulatory filing with the Securities and Exchange Commission.
Steven D. Brill acquired a total of 4 shares at a price of $12.97 per share, amounting to an investment of $51. Following this purchase, Brill's total ownership in Global Water Resources stands at 3,440 shares of common stock.
Global Water Resources, based in Phoenix, Arizona, is a company specializing in water resource management. The company operates within the water supply sector and is incorporated in Delaware. This transaction indicates a continued investment by company executives in Global Water Resources' future.
Investors often monitor insider buying and selling as it can provide insights into a company's financial health and executive confidence. The purchase by Brill may be seen as a positive sign to investors, reflecting a belief in the long-term value of the company by a key insider.
The details of the transaction were made public on June 4, following the standard reporting procedures for insider transactions.
InvestingPro Insights
Amidst the insider buying activity at Global Water Resources, Inc. (NASDAQ:GWRS), investors may be interested in understanding the broader financial landscape of the company. Recent data from InvestingPro provides a snapshot of GWRS's valuation and performance metrics that can offer additional context to insider transactions.
The market capitalization of Global Water Resources stands at a modest $296.4 million, reflecting its position in the water supply sector. Despite a relatively high price-to-earnings (P/E) ratio of 48.29, the company boasts a robust gross profit margin of 74.44% for the last twelve months as of Q1 2024. This strong margin is indicative of the company's efficiency in managing its cost of goods sold and could be a reassuring factor for investors considering the company's financial health.
Investors should note that Global Water Resources has demonstrated a commitment to returning value to shareholders, as evidenced by its track record of raising its dividend for eight consecutive years. Additionally, the company's liquid assets exceed its short-term obligations, providing a cushion for operational flexibility and financial stability.
For those seeking further insights and analysis, there are additional InvestingPro Tips available for GWRS. These tips delve deeper into various aspects of the company's financial situation, including valuation multiples and profitability forecasts. Interested investors can explore these tips to gain a more comprehensive understanding of Global Water Resources' investment profile. Additionally, using the coupon code PRONEWS24, readers can benefit from an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access the full suite of exclusive insights on InvestingPro.
While the recent insider purchase by Steven D. Brill is a singular event, the broader data provided by InvestingPro can help investors make more informed decisions by considering the company's financial performance and market valuation. With a total of 9 additional InvestingPro Tips available for GWRS, investors have ample resources to evaluate the company's prospects.
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