Redmond Asset Management LLC Buys Shares of 49,413 Primo Water Corporation (PRMW)
Redmond Asset Management LLC bought a new stake in shares of Primo Water Corporation (NASDAQ:PRMW) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 49,413 shares of the company’s stock, valued at approximately $586,000. Redmond Asset Management LLC owned approximately 0.17% of Primo Water Corporation at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC grew its stake in shares of Primo Water Corporation by 2.9% during the first quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock valued at $145,000 after acquiring an additional 300 shares in the last quarter. US Bancorp DE grew its stake in shares of Primo Water Corporation by 23.0% during the second quarter. US Bancorp DE now owns 12,159 shares of the company’s stock valued at $155,000 after acquiring an additional 2,275 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new stake in shares of Primo Water Corporation during the second quarter valued at about $159,000. Teton Advisors Inc. acquired a new stake in shares of Primo Water Corporation during the second quarter valued at about $165,000. Finally, American International Group Inc. grew its stake in shares of Primo Water Corporation by 7.5% during the first quarter. American International Group Inc. now owns 13,052 shares of the company’s stock valued at $177,000 after acquiring an additional 910 shares in the last quarter. Institutional investors own 63.13% of the company’s stock.
In other Primo Water Corporation news, insider Billy D. Prim sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $12.16, for a total value of $12,160,000.00. Following the transaction, the insider now owns 1,980,927 shares of the company’s stock, valued at $24,088,072.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Malcolm Mcquilkin sold 16,062 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $11.66, for a total transaction of $187,282.92. Following the completion of the transaction, the director now directly owns 105,345 shares in the company, valued at approximately $1,228,322.70. The disclosure for this sale can be found here. Insiders sold 1,040,858 shares of company stock valued at $12,639,169 over the last quarter. Insiders own 15.80% of the company’s stock.
Primo Water Corporation (NASDAQ PRMW) traded up $0.04 during trading hours on Monday, reaching $12.59. The company had a trading volume of 154,300 shares, compared to its average volume of 196,265. Primo Water Corporation has a fifty-two week low of $10.47 and a fifty-two week high of $15.39. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.82.
PRMW has been the subject of several recent analyst reports. ValuEngine upgraded Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. B. Riley reiterated a “buy” rating and issued a $17.50 price target on shares of Primo Water Corporation in a research note on Wednesday, November 8th. Finally, BidaskClub upgraded Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $17.10.
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About Primo Water Corporation
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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