Pennant Select LLC Acquires 239,000 Shares of Perimeter Solutions, SA (NYSE:PRM)

Pennant Select LLC lifted its position in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 41.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 814,000 shares of the company's stock after buying an additional 239,000 shares during the quarter. Perimeter Solutions makes up about 7.7% of Pennant Select LLC's holdings, making the stock its 7th largest position. Pennant Select LLC owned about 0.56% of Perimeter Solutions worth $10,948,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in Perimeter Solutions in the 1st quarter worth approximately $78,000. Landscape Capital Management L.L.C. purchased a new stake in Perimeter Solutions in the 3rd quarter valued at about $148,000. Jag Capital Management LLC purchased a new position in shares of Perimeter Solutions during the 3rd quarter worth about $158,000. CWM LLC grew its holdings in Perimeter Solutions by 22.8% in the third quarter. CWM LLC now owns 12,251 shares of the company's stock valued at $165,000 after purchasing an additional 2,276 shares during the period. Finally, Procyon Advisors LLC acquired a new position in shares of Perimeter Solutions in the 3rd quarter valued at $169,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Stock Up 1.6 %

NYSE PRM traded up $0.20 during trading hours on Friday, hitting $12.80. The company had a trading volume of 328,892 shares, compared to its average volume of 760,214. The firm's 50 day moving average is $13.11 and its 200 day moving average is $10.52. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 2.95. Perimeter Solutions, SA has a fifty-two week low of $3.84 and a fifty-two week high of $14.44. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -11.22 and a beta of 2.02.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($1.22). The company had revenue of $288.42 million during the quarter, compared to analyst estimates of $265.30 million. Perimeter Solutions had a negative net margin of 30.57% and a negative return on equity of 10.08%. During the same quarter last year, the business posted $0.31 EPS. Sell-side analysts anticipate that Perimeter Solutions, SA will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Haitham Khouri sold 80,000 shares of Perimeter Solutions stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.05, for a total value of $964,000.00. Following the completion of the transaction, the chief executive officer now owns 429,989 shares in the company, valued at approximately $5,181,367.45. This trade represents a 15.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tracy Britt Cool sold 50,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.81, for a total value of $640,500.00. Following the completion of the sale, the director now owns 173,449 shares of the company's stock, valued at $2,221,881.69. This trade represents a 22.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,156 shares of company stock worth $2,579,197. 8.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PRM shares. Morgan Stanley increased their target price on Perimeter Solutions from $14.00 to $18.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. UBS Group raised their price target on shares of Perimeter Solutions from $8.75 to $11.00 and gave the company a "neutral" rating in a report on Friday, August 16th.

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.