Perimeter Solutions, SA (NYSE:PRM) Stake Reduced by Matrix Capital Management Company LP

Matrix Capital Management Company LP lowered its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,554,000 shares of the company's stock after selling 171,000 shares during the period. Perimeter Solutions accounts for 3.9% of Matrix Capital Management Company LP's investment portfolio, making the stock its 3rd biggest holding. Matrix Capital Management Company LP owned approximately 4.48% of Perimeter Solutions worth $83,760,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. XTX Topco Ltd bought a new position in Perimeter Solutions during the fourth quarter worth about $398,000. Barclays PLC boosted its holdings in Perimeter Solutions by 11.5% in the 4th quarter. Barclays PLC now owns 230,741 shares of the company's stock worth $2,949,000 after buying an additional 23,774 shares during the period. Summit Investment Advisors Inc. grew its stake in Perimeter Solutions by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,000 shares of the company's stock valued at $179,000 after buying an additional 889 shares in the last quarter. Townsquare Capital LLC raised its holdings in Perimeter Solutions by 11.8% during the 4th quarter. Townsquare Capital LLC now owns 21,370 shares of the company's stock valued at $273,000 after acquiring an additional 2,258 shares during the period. Finally, Sterling Capital Management LLC lifted its position in shares of Perimeter Solutions by 4,685.2% during the fourth quarter. Sterling Capital Management LLC now owns 22,347 shares of the company's stock worth $286,000 after acquiring an additional 21,880 shares in the last quarter. Institutional investors own 89.93% of the company's stock.

Analyst Ratings Changes

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

Perimeter Solutions Price Performance

Shares of Perimeter Solutions stock traded down $0.10 during trading on Friday, hitting $9.81. The stock had a trading volume of 783,146 shares, compared to its average volume of 911,129. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67. Perimeter Solutions, SA has a 12 month low of $6.84 and a 12 month high of $14.44. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -70.04 and a beta of 1.88. The business's 50-day moving average is $9.99 and its 200 day moving average is $11.92.

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

Insider Buying and Selling at Perimeter Solutions

In related news, Director Vivek Raj sold 250,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.17, for a total transaction of $2,292,500.00. Following the transaction, the director now directly owns 471,226 shares of the company's stock, valued at approximately $4,321,142.42. This trade represents a 34.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 8.70% of the stock is currently owned by company insiders.

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.