Zelman Capital Lowers stake in Primo Water Corporation (PRMW)

Primo Water Corporation (PRMW) : Zelman Capital reduced its stake in Primo Water Corporation by 15.99% during the most recent quarter end. The investment management company now holds a total of 1,456,641 shares of Primo Water Corporation which is valued at $16,663,973 after selling 277,233 shares in Primo Water Corporation , the firm said in a disclosure report filed with the SEC on Jul 13, 2016.Primo Water Corporation makes up approximately 8.15% of Zelman Capital’s portfolio.

Other Hedge Funds, Including , Creative Planning added PRMW to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $1,144.Cutler Group Lp reduced its stake in PRMW by selling 5,400 shares or 99.05% in the most recent quarter. The Hedge Fund company now holds 52 shares of PRMW which is valued at $595. Bnp Paribas Arbitrage Sa added PRMW to its portfolio by purchasing 835 company shares during the most recent quarter which is valued at $9,569.

Primo Water Corporation closed down -0.08 points or -0.70% at $11.38 with 1,25,889 shares getting traded on Monday. Post opening the session at $11.45, the shares hit an intraday low of $11.21 and an intraday high of $11.58 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 .

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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