Primo Water Corporation (NASDAQ:PRMW) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.59 and last traded at $10.60, with a volume of 277,940 shares. The stock had previously closed at $10.77.

PRMW has been the subject of a number of research reports. Zacks Investment Research lowered shares of Primo Water Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. BidaskClub raised shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. ValuEngine raised shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, B. Riley reaffirmed a “buy” rating and set a $17.50 target price on shares of Primo Water Corporation in a report on Sunday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $17.38.

The stock has a 50 day moving average price of $11.39 and a 200-day moving average price of $12.20. The firm’s market capitalization is $317.50 million.

Primo Water Corporation (NASDAQ:PRMW) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The company had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $73.20 million. Primo Water Corporation had a negative return on equity of 42.49% and a negative net margin of 11.15%. The company’s revenue for the quarter was up 117.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS. On average, equities research analysts forecast that Primo Water Corporation will post ($0.31) EPS for the current fiscal year.

In related news, insider Billy D. Prim sold 1,000,000 shares of Primo Water Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $12.16, for a total transaction of $12,160,000.00. Following the completion of the sale, the insider now owns 1,980,927 shares in the company, valued at approximately $24,088,072.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Malcolm Mcquilkin sold 11,082 shares of Primo Water Corporation stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $11.86, for a total value of $131,432.52. Following the sale, the director now owns 126,042 shares of the company’s stock, valued at approximately $1,494,858.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,040,858 shares of company stock valued at $12,639,169. 15.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in Primo Water Corporation by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 44,879 shares of the company’s stock worth $570,000 after purchasing an additional 800 shares in the last quarter. Argent Capital Management LLC purchased a new stake in Primo Water Corporation during the 2nd quarter worth about $1,631,000. The Manufacturers Life Insurance Company increased its position in Primo Water Corporation by 20.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,080 shares of the company’s stock worth $267,000 after purchasing an additional 3,625 shares in the last quarter. State Street Corp increased its position in Primo Water Corporation by 11.6% during the 2nd quarter. State Street Corp now owns 386,038 shares of the company’s stock worth $4,906,000 after purchasing an additional 40,107 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in Primo Water Corporation by 16.5% during the 2nd quarter. Voya Investment Management LLC now owns 14,347 shares of the company’s stock worth $182,000 after purchasing an additional 2,028 shares in the last quarter. Hedge funds and other institutional investors own 63.05% of the company’s stock.

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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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