Why a Fund Trimmed an $18 Million Stake in Primo Brands Amid a 47% Stock Drop

New York City-based Nitorum Capital disclosed a sale of 420,586 shares of Primo Brands Corporation (NYSE:PRMB), reducing its position by an estimated $18.53 million, according to a November 14 SEC filing.According to a filing with the Securities and Exchange Commission dated November 14, Nitorum Capital sold 420,586 shares of Primo Brands Corporation (NYSE:PRMB) during the third quarter. The fund’s stake decreased from 5.39% to 3.14% of reportable assets under management, with the remaining position valued at $17.85 million on September 30.The latest reported PRMB stake represents 3.13% of 13F AUM, which places it outside the fund’s top five holdings.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool