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Jonathan L. Levine, a director at Global Water Resources, Inc. (NASDAQ:GWRS), recently acquired a significant amount of the company’s common stock. According to a Form 4 filing with the Securities and Exchange Commission, Levine purchased 1,187,200 shares at $10 per share on March 27, 2025, near the stock’s 52-week low of $9.79. This $11.87 million investment in the $278 million market cap company comes as the stock offers a 2.95% dividend yield. InvestingPro analysis reveals the company maintains impressive gross margins of 74%.
Following this purchase, Levine holds a total of 11,398,491 shares indirectly through Levine Investments Limited Partnership. Additionally, another 50,000 shares are held indirectly by the Levine Family Trust "A," for which he serves as a trustee. This move reflects Levine’s substantial financial commitment to Global Water Resources, a company focused on water supply services. Get deeper insights into GWRS’s valuation and 8 additional key indicators with a InvestingPro subscription, including exclusive access to the comprehensive Pro Research Report.
In other recent news, Global Water Resources reported its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) expectations at $0.04, compared to the projected $0.06. However, the company exceeded revenue forecasts, reaching $13.29 million against an anticipated $12.7 million. Additionally, Global Water Resources announced a public stock offering priced at $10 per share, aiming to raise approximately $28 million. The proceeds are expected to fund acquisitions, working capital, and other corporate purposes, with Roth Capital Partners (WA:CPAP) and Janney Montgomery Scott serving as underwriters. The company also filed applications for water and wastewater rate increases for two subsidiaries, potentially boosting net annual revenue by $6.5 million. If approved, the new rates would be implemented in two phases, starting in May 2026. Furthermore, Global Water Resources declared a monthly cash dividend of $0.02533 per share, amounting to an annual rate of $0.30396 per share. These developments reflect the company’s strategic initiatives to enhance its financial position and expand its operations.
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