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

Pennant Select LLC boosted its holdings in Perimeter Solutions, SA (NYSE:PRM) by 41.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 814,000 shares of the company’s stock after buying an additional 239,000 shares during the quarter. Perimeter Solutions accounts for about 7.7% of Pennant Select LLC’s investment portfolio, making the stock its 7th largest position. Pennant Select LLC owned approximately 0.56% of Perimeter Solutions worth $10,948,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. PEAK6 Investments LLC boosted its stake in Perimeter Solutions by 243.0% in the 3rd quarter. PEAK6 Investments LLC now owns 51,537 shares of the company’s stock worth $693,000 after purchasing an additional 36,511 shares during the period. Townsquare Capital LLC boosted its stake in Perimeter Solutions by 59.3% in the 3rd quarter. Townsquare Capital LLC now owns 19,112 shares of the company’s stock worth $257,000 after purchasing an additional 7,118 shares during the period. Quantbot Technologies LP acquired a new position in Perimeter Solutions in the 3rd quarter worth approximately $576,000. FMR LLC boosted its stake in Perimeter Solutions by 2,993.1% in the 3rd quarter. FMR LLC now owns 307,426 shares of the company’s stock worth $4,135,000 after purchasing an additional 297,487 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Perimeter Solutions by 34.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 65,863 shares of the company’s stock worth $886,000 after purchasing an additional 17,009 shares during the period. Institutional investors and hedge funds own 89.93% of the company’s stock.

Perimeter Solutions Trading Down 2.1 %

Shares of NYSE:PRM opened at $12.60 on Friday. The firm has a fifty day moving average of $13.11 and a two-hundred day moving average of $10.50. Perimeter Solutions, SA has a 12-month low of $3.84 and a 12-month high of $14.44. 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 (NYSE:PRM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.22). The business had revenue of $288.42 million for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $0.31 EPS. Equities analysts predict that Perimeter Solutions, SA will post 0.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on PRM. UBS Group raised their price objective on shares of Perimeter Solutions from $8.75 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley raised their price objective on shares of Perimeter Solutions from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th.

Insider Activity at Perimeter Solutions

In other news, CEO Haitham Khouri sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.05, for a total transaction of $964,000.00. Following the sale, the chief executive officer now directly owns 429,989 shares in the company, valued at approximately $5,181,367.45. The trade was a 15.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tracy Britt Cool sold 50,000 shares of Perimeter Solutions stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.81, for a total transaction of $640,500.00. Following the sale, the director now owns 173,449 shares in the company, valued at $2,221,881.69. This represents a 22.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 210,156 shares of company stock worth $2,579,197 over the last three months. Company insiders own 8.70% of the company’s stock.

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.