Perimeter Solutions, SA (NYSE:PRM) Stake Reduced by Pennant Investors LP

Pennant Investors LP lessened its holdings in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 15.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,270,000 shares of the company's stock after selling 430,000 shares during the period. Perimeter Solutions makes up about 8.3% of Pennant Investors LP's investment portfolio, making the stock its 4th largest position. Pennant Investors LP owned about 1.55% of Perimeter Solutions worth $29,011,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. McAdam LLC bought a new stake in shares of Perimeter Solutions in the 4th quarter worth about $131,000. Tower Research Capital LLC TRC raised its position in Perimeter Solutions by 90.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,665 shares of the company's stock worth $136,000 after purchasing an additional 5,054 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Perimeter Solutions by 14.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,794 shares of the company's stock worth $151,000 after purchasing an additional 1,519 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Perimeter Solutions during the fourth quarter valued at approximately $160,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Perimeter Solutions by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,000 shares of the company's stock worth $179,000 after buying an additional 889 shares during the period. Institutional investors own 89.93% of the company's stock.

Wall Street Analyst Weigh In

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

Perimeter Solutions Stock Performance

Shares of NYSE:PRM traded down $0.04 on Friday, hitting $10.21. 560,254 shares of the company were exchanged, compared to its average volume of 910,518. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67. The stock's 50 day moving average price is $9.81 and its 200 day moving average price is $11.82. The firm has a market capitalization of $1.52 billion, a P/E ratio of -72.92 and a beta of 1.88. Perimeter Solutions, SA has a 1-year low of $6.94 and a 1-year high of $14.44.

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

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, Director Vivek Raj sold 250,000 shares of the company's stock in a transaction on 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 sale, the director now directly owns 471,226 shares in the company, valued at $4,321,142.42. This represents a 34.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is owned by corporate insiders.

Perimeter Solutions Company Profile

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.