Zelman Capital Lowers stake in Primo Water Corporation (PRMW)

Primo Water Corporation (PRMW) : Zelman Capital reduced its stake in Primo Water Corporation by 10.54% during the most recent quarter end. The investment management company now holds a total of 1,733,874 shares of Primo Water Corporation which is valued at $21 Million after selling 204,274 shares in Primo Water Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.Primo Water Corporation makes up approximately 11.95% of Zelman Capital’s portfolio.

Other Hedge Funds, Including , Axiom International Investors De added PRMW to its portfolio by purchasing 198,830 company shares during the most recent quarter which is valued at $2.4 Million. Primo Water Corporation makes up approx 0.07% of Axiom International Investors De’s portfolio.Hillsdale Investment Management boosted its stake in PRMW in the latest quarter, The investment management firm added 8,100 additional shares and now holds a total of 57,800 shares of Primo Water Corporation which is valued at $700,536. Primo Water Corporation makes up approx 0.23% of Hillsdale Investment Management’s portfolio. Bluecrest Capital Management Ltd added PRMW to its portfolio by purchasing 19,788 company shares during the most recent quarter which is valued at $227,364. Primo Water Corporation makes up approx 0.02% of Bluecrest Capital Management Ltd’s portfolio.

Primo Water Corporation opened for trading at $11.45 and hit $11.89 on the upside on Friday, eventually ending the session at $11.74, with a gain of 2.62% or 0.3 points. The heightened volatility saw the trading volume jump to 1,37,693 shares. Company has a market cap of $304 M.

On the company’s financial health, Primo Water Corporation reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.04. The company had revenue of $33.00 million for the quarter, compared to analysts expectations of $30.85 million. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.

Many Wall Street Analysts have commented on Primo Water Corporation. Company shares were Reiterated by Barrington Research on May 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 12 from a previous price target of $10 .Company shares were Reiterated by Barrington Research on Mar 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 10 from a previous price target of $9.50 .

Primo Water Corporation is a provider of multi-gallon purified bottled water self-service refill water and water dispensers. The Company’s products provide a solution for consuming purified and filtered water. It provides retailers throughout the United States and Canada with single-vendor solutions for Exchange and Refill services. Its Exchange solution offers retailers financial margins and the ability to optimize typically unused retail space with its displays. Its Refill solution provides filtered water through the installation and servicing of reverse osmosis water filtration systems in the back room of the retailer’s store location which minimizes the usage of the customer’s retail space. The Company has two operational segments: Primo Water (Water) and Primo Dispensers (Dispensers).

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