Zacks Investment Research lowered shares of Primo Water (NASDAQ:PRMW) from a hold rating to a sell rating in a research report report published on Friday.
According to Zacks, “Prime Water Corporation operates as a provider of three- and five-gallon purified bottled water and water dispensers sold through major retailers nationwide. The Company’s water bottles can be sanitized and reused, crushed and recycled. Also, it provides water bottle exchange solution for its retail customers. It operates through two segments, Primo Bottled Water Exchange and Primo Products. Prime Water Corporation is headquartered in Winston-Salem, North Carolina. “
A number of other analysts have also recently weighed in on PRMW. BidaskClub cut shares of Primo Water from a hold rating to a sell rating in a research note on Thursday, December 14th. ValuEngine cut shares of Primo Water from a hold rating to a sell rating in a research note on Friday, February 2nd. Finally, B. Riley set a $18.00 price objective on shares of Primo Water and gave the stock a buy rating in a research note on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $17.20.
In other Primo Water news, insider Camden Partners Strategic Fund sold 58,383 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $12.35, for a total transaction of $721,030.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David L. Warnock sold 33,226 shares of the company’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $12.37, for a total transaction of $411,005.62. Following the sale, the director now directly owns 25,157 shares in the company, valued at $311,192.09. The disclosure for this sale can be found here. Insiders have sold 93,526 shares of company stock worth $1,155,653 over the last ninety days. Insiders own 15.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of PRMW. Caption Management LLC bought a new stake in Primo Water during the fourth quarter worth about $101,000. MetLife Investment Advisors LLC bought a new stake in Primo Water during the fourth quarter worth about $138,000. Driehaus Capital Management LLC bought a new stake in Primo Water during the fourth quarter worth about $166,000. Voya Investment Management LLC grew its stake in Primo Water by 16.5% during the second quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock worth $182,000 after buying an additional 2,028 shares during the last quarter. Finally, Nationwide Fund Advisors grew its stake in Primo Water by 17.1% during the second quarter. Nationwide Fund Advisors now owns 14,328 shares of the company’s stock worth $182,000 after buying an additional 2,097 shares during the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.
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Primo Water 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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