Primo Water Co. (NASDAQ:PRMW) Director David L. Warnock sold 1,917 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $12.32, for a total transaction of $23,617.44. Following the sale, the director now directly owns 25,157 shares in the company, valued at approximately $309,934.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Primo Water Co. (PRMW) opened at $13.10 on Friday. The company has a market cap of $385.09, a price-to-earnings ratio of -18.99, a PEG ratio of 4.05 and a beta of -0.31. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. Primo Water Co. has a twelve month low of $10.47 and a twelve month high of $15.39.
Hedge funds have recently added to or reduced their stakes in the company. Granite Point Capital Management L.P. boosted its holdings in shares of Primo Water by 233.3% in the 2nd quarter. Granite Point Capital Management L.P. now owns 50,000 shares of the company’s stock valued at $635,000 after acquiring an additional 35,000 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Primo Water by 42.2% in the 2nd quarter. Royce & Associates LP now owns 226,900 shares of the company’s stock valued at $2,882,000 after purchasing an additional 67,300 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of Primo Water by 13.0% in the 2nd quarter. Eagle Asset Management Inc. now owns 447,192 shares of the company’s stock valued at $5,679,000 after purchasing an additional 51,504 shares during the period. B. Riley Financial Inc. lifted its stake in shares of Primo Water by 137.9% in the 2nd quarter. B. Riley Financial Inc. now owns 84,375 shares of the company’s stock valued at $1,072,000 after purchasing an additional 48,907 shares during the period. Finally, Argent Capital Management LLC acquired a new position in shares of Primo Water in the 2nd quarter valued at $1,631,000. 68.61% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on PRMW shares. Zacks Investment Research raised shares of Primo Water from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Friday, November 10th. B. Riley reissued a “buy” rating and set a $17.50 target price on shares of Primo Water in a research report on Wednesday, November 8th. BidaskClub raised shares of Primo Water from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Barrington Research upped their price objective on shares of Primo Water from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. Finally, ValuEngine downgraded shares of Primo Water from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.10.
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About Primo Water
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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