Camden Partners Strategic Fund Sells 7,985 Shares of Primo Water Corporation (PRMW) Stock
Primo Water Corporation (NASDAQ:PRMW) insider Camden Partners Strategic Fund sold 7,985 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $13.50, for a total transaction of $107,797.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Primo Water Corporation (NASDAQ:PRMW) traded down 0.74% on Thursday, reaching $13.40. 154,570 shares of the company’s stock were exchanged. The stock’s market capitalization is $400.46 million. Primo Water Corporation has a 1-year low of $10.25 and a 1-year high of $15.39. The firm’s 50 day moving average is $12.30 and its 200 day moving average is $13.00.
Primo Water Corporation (NASDAQ:PRMW) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.09. The company had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $64.56 million. Primo Water Corporation had a negative return on equity of 38.63% and a negative net margin of 11.02%. The company’s revenue for the quarter was up 88.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 EPS. Analysts expect that Primo Water Corporation will post ($0.20) EPS for the current year.
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Several equities research analysts recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $16.50 price objective on shares of Primo Water Corporation in a research report on Tuesday, March 14th. ValuEngine upgraded shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BMO Capital Markets reiterated a “market perform” rating on shares of Primo Water Corporation in a research report on Friday, June 9th. Barrington Research upped their target price on shares of Primo Water Corporation from $16.50 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, May 10th. Finally, Zacks Investment Research lowered shares of Primo Water Corporation from a “hold” rating to a “strong sell” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Primo Water Corporation presently has an average rating of “Hold” and a consensus target price of $17.10.
A number of institutional investors have recently modified their holdings of PRMW. Elk Creek Partners LLC acquired a new stake in shares of Primo Water Corporation during the first quarter worth approximately $7,216,000. Eagle Asset Management Inc. purchased a new stake in shares of Primo Water Corporation during the first quarter valued at about $5,373,000. Russell Investments Group Ltd. purchased a new stake in shares of Primo Water Corporation during the fourth quarter valued at about $2,941,000. Royce & Associates LP purchased a new stake in shares of Primo Water Corporation during the first quarter valued at about $2,167,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Primo Water Corporation by 29.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 569,039 shares of the company’s stock valued at $6,988,000 after buying an additional 130,127 shares in the last quarter. 57.90% of the stock is currently owned by hedge funds and other institutional investors.
Primo Water Corporation Company Profile
Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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