Meritage Group LP Reduces Position in Perimeter Solutions, SA (NYSE:PRM)

Meritage Group LP trimmed its holdings in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 51.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,916,272 shares of the company's stock after selling 4,083,728 shares during the period. Perimeter Solutions makes up 1.2% of Meritage Group LP's investment portfolio, making the stock its 19th largest holding. Meritage Group LP owned about 2.68% of Perimeter Solutions worth $50,050,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PRM. McAdam LLC bought a new stake in Perimeter Solutions during the 4th quarter worth approximately $131,000. Orion Portfolio Solutions LLC purchased a new position in Perimeter Solutions during the 3rd quarter worth $138,000. Cibc World Markets Corp bought a new stake in shares of Perimeter Solutions in the 4th quarter worth $160,000. Summit Investment Advisors Inc. lifted its position in shares of Perimeter Solutions by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,000 shares of the company's stock valued at $179,000 after purchasing an additional 889 shares in the last quarter. Finally, Lingohr Asset Management GmbH purchased a new position in Perimeter Solutions during the fourth quarter worth about $203,000. Institutional investors own 89.93% of the company's stock.

Perimeter Solutions Stock Performance

PRM traded down $0.12 during trading on Friday, hitting $10.14. 281,042 shares of the company traded hands, compared to its average volume of 908,116. The firm has a market cap of $1.52 billion, a P/E ratio of -72.28 and a beta of 1.88. The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67. Perimeter Solutions, SA has a one year low of $6.84 and a one year high of $14.44. The stock's fifty day moving average is $9.84 and its 200 day moving average is $11.84.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.21. The firm had revenue of $86.23 million for the quarter, compared to analysts' expectations of $77.01 million. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. As a group, equities analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Vivek Raj sold 250,000 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.17, for a total value of $2,292,500.00. Following the completion of the transaction, the director now directly owns 471,226 shares in the company, valued at approximately $4,321,142.42. This represents a 34.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.70% of the company's stock.

Analysts Set New Price Targets

Separately, UBS Group upgraded Perimeter Solutions from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a research note on Wednesday, March 26th.

About Perimeter Solutions

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.