Perritt Capital Management Inc. cut its position in Primo Water Co. (NASDAQ:PRMW) by 18.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,883 shares of the company’s stock after selling 39,000 shares during the period. Perritt Capital Management Inc.’s holdings in Primo Water were worth $2,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aperio Group LLC purchased a new stake in shares of Primo Water during the 2nd quarter worth $35,000. Bank of Montreal Can grew its stake in shares of Primo Water by 26,645.5% during the second quarter. Bank of Montreal Can now owns 2,942 shares of the company’s stock worth $36,000 after purchasing an additional 2,931 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Primo Water by 77,911.1% in the first quarter. BNP Paribas Arbitrage SA now owns 7,021 shares of the company’s stock valued at $109,000 after buying an additional 7,012 shares during the last quarter. Trellus Management Company LLC purchased a new position in Primo Water in the second quarter valued at $218,000. Finally, Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in Primo Water in the first quarter valued at $274,000. Institutional investors and hedge funds own 90.21% of the company’s stock.

A number of brokerages have issued reports on PRMW. Northland Securities reaffirmed a “buy” rating and set a $19.00 price target on shares of Primo Water in a report on Tuesday, June 25th. Zacks Investment Research raised Primo Water from a “sell” rating to a “hold” rating in a research report on Saturday. B. Riley restated a “buy” rating and set a $18.00 target price on shares of Primo Water in a research note on Friday, September 6th. ValuEngine upgraded Primo Water from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Barrington Research set a $18.00 price target on Primo Water and gave the company a “buy” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.80.

NASDAQ:PRMW traded up $0.25 during midday trading on Wednesday, hitting $13.13. 19,538 shares of the company were exchanged, compared to its average volume of 234,643. The company has a fifty day simple moving average of $12.83 and a 200 day simple moving average of $13.55. Primo Water Co. has a fifty-two week low of $10.70 and a fifty-two week high of $20.26. The company has a current ratio of 0.99, a quick ratio of 0.71 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $506.31 million, a PE ratio of 38.09, a price-to-earnings-growth ratio of 4.09 and a beta of 0.80.

Primo Water (NASDAQ:PRMW) last released its quarterly earnings data on Monday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $79.30 million during the quarter, compared to analyst estimates of $78.01 million. Primo Water had a negative net margin of 18.85% and a positive return on equity of 11.75%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. As a group, equities research analysts expect 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 business’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $12.23 per share, with a total value of $61,150.00. Following the completion of the transaction, the director now directly owns 28,968 shares in the company, valued at approximately $354,278.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 6,459 shares of company stock worth $77,820 in the last quarter. Insiders own 10.80% of the company’s stock.

Primo Water Profile

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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