Perritt Capital Management Inc. Cuts Stock Position in Primo Water Co. (NASDAQ:PRMW)

Perritt Capital Management Inc. lessened its stake in Primo Water Co. (NASDAQ:PRMW) by 18.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176,883 shares of the company’s stock after selling 39,000 shares during the quarter. Perritt Capital Management Inc. owned approximately 0.45% of Primo Water worth $2,176,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PRMW. Aperio Group LLC acquired a new stake in shares of Primo Water in the second quarter valued at about $35,000. Bank of Montreal Can lifted its stake in Primo Water by 26,645.5% in the 2nd quarter. Bank of Montreal Can now owns 2,942 shares of the company’s stock valued at $36,000 after buying an additional 2,931 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Primo Water by 77,911.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,021 shares of the company’s stock worth $109,000 after buying an additional 7,012 shares during the last quarter. Trellus Management Company LLC acquired a new stake in Primo Water in the 2nd quarter worth about $218,000. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in Primo Water during the 1st quarter worth approximately $274,000. Institutional investors own 90.21% of the company’s stock.

Several equities analysts have recently weighed in on PRMW shares. Northland Securities restated a “buy” rating and issued a $19.00 target price on shares of Primo Water in a research report on Tuesday, June 25th. B. Riley reiterated a “buy” rating and set a $18.00 price target on shares of Primo Water in a research report on Friday, September 6th. Imperial Capital reduced their price objective on Primo Water from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Zacks Investment Research upgraded Primo Water from a “sell” rating to a “hold” rating in a report on Saturday. Finally, ValuEngine raised shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.80.

Shares of PRMW stock traded up $0.25 during trading hours on Wednesday, reaching $13.13. The company had a trading volume of 19,538 shares, compared to its average volume of 234,643. Primo Water Co. has a 12-month low of $10.70 and a 12-month high of $20.26. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.71 and a current ratio of 0.99. The company has a market capitalization of $506.31 million, a price-to-earnings ratio of 38.09, a PEG ratio of 4.09 and a beta of 0.80. The stock has a fifty day moving average of $12.83 and a 200-day moving average of $13.55.

Primo Water (NASDAQ:PRMW) last issued its earnings results on Monday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Primo Water had a negative net margin of 18.85% and a positive return on equity of 11.75%. The company had revenue of $79.30 million during the quarter, compared to analysts’ expectations of $78.01 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, analysts forecast that Primo Water Co. will post 0.26 EPS for the current year.

In other news, Director Susan E. Cates purchased 5,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $12.23 per share, with a total value of $61,150.00. Following the transaction, the director now owns 28,968 shares in the company, valued at approximately $354,278.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have bought 6,459 shares of company stock worth $77,820. Corporate insiders own 10.80% of the company’s stock.

About Primo Water

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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Institutional Ownership by Quarter for Primo Water (NASDAQ:PRMW)

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