Pure Cycle Co. (NASDAQ:PCYO) major shareholder Par Investment Partners Lp sold 2,950,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $9.75, for a total transaction of $28,762,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of NASDAQ PCYO opened at $10.90 on Friday. The company’s fifty day moving average price is $10.63 and its 200 day moving average price is $10.35. Pure Cycle Co. has a 1 year low of $8.35 and a 1 year high of $11.45. The company has a market capitalization of $262.51 million, a PE ratio of 116.56 and a beta of 0.55.
A number of brokerages recently issued reports on PCYO. BidaskClub raised shares of Pure Cycle from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded shares of Pure Cycle from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd.
A number of hedge funds and other institutional investors have recently made changes to their positions in PCYO. Dalton Greiner Hartman Maher & Co. purchased a new stake in Pure Cycle during the third quarter worth $640,000. Vanguard Group Inc. boosted its holdings in Pure Cycle by 6.4% during the second quarter. Vanguard Group Inc. now owns 859,898 shares of the utilities provider’s stock worth $9,115,000 after buying an additional 51,945 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Pure Cycle by 72.5% during the second quarter. Renaissance Technologies LLC now owns 67,628 shares of the utilities provider’s stock worth $717,000 after buying an additional 28,428 shares in the last quarter. Wall Street Access Asset Management LLC purchased a new stake in Pure Cycle during the second quarter worth $167,000. Finally, Beddow Capital Management Inc. purchased a new stake in Pure Cycle during the second quarter worth $159,000. 65.67% of the stock is currently owned by hedge funds and other institutional investors.
About Pure Cycle
Pure Cycle Corporation designs, constructs, operates, and maintains water and wastewater systems in the Denver metropolitan area and Colorado Front Range in the United States. It operates in two segments, Wholesale Water and Wastewater Services, and Land Development Activities. The company offers utility services, including water production, storage, treatment, wastewater collection and treatment, irrigation water treatment and transmission, construction management, billing and collection, and emergency response services, as well as bulk transmission services to retail distribution systems.
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