Summit Global Investments Buys Shares of 49,521 Perimeter Solutions, SA (NYSE:PRM)

Summit Global Investments bought a new stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 49,521 shares of the company's stock, valued at approximately $633,000.

Several other hedge funds also recently added to or reduced their stakes in PRM. Corient Private Wealth LLC acquired a new position in Perimeter Solutions in the fourth quarter valued at approximately $41,780,000. Catawba River Capital purchased a new stake in Perimeter Solutions during the fourth quarter worth $7,658,000. Ieq Capital LLC purchased a new stake in Perimeter Solutions during the fourth quarter worth $6,698,000. DF Dent & Co. Inc. grew its position in Perimeter Solutions by 27.4% during the third quarter. DF Dent & Co. Inc. now owns 2,341,963 shares of the company's stock valued at $31,499,000 after buying an additional 504,146 shares during the period. Finally, FMR LLC increased its holdings in Perimeter Solutions by 2,993.1% in the third quarter. FMR LLC now owns 307,426 shares of the company's stock valued at $4,135,000 after buying an additional 297,487 shares in the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Vivek Raj sold 250,000 shares of the stock in a transaction dated Friday, March 14th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is owned by company insiders.

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Analysts Set New Price Targets

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 note on Wednesday.

Perimeter Solutions Price Performance

Shares of NYSE:PRM traded up $0.59 during midday trading on Thursday, reaching $10.61. 1,950,899 shares of the company's stock traded hands, compared to its average volume of 843,763. The company has a market cap of $1.59 billion, a P/E ratio of -75.74 and a beta of 1.93. The company has a fifty day simple moving average of $11.09 and a two-hundred day simple moving average of $12.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. Perimeter Solutions, SA has a 1 year low of $6.84 and a 1 year high of $14.44.

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

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.