Alyeska Investment Group L.P. Makes New $8.06 Million Investment in Perimeter Solutions, SA $PRM

Key Points

• Alyeska Investment Group L.P. has acquired a new position in Perimeter Solutions, purchasing 800,000 shares valued at approximately $8.06 million, bringing their ownership to 0.54% of the company.
• Several institutional investors, including Susquehanna International Group LLP and Price T Rowe Associates Inc., have recently increased their stakes in Perimeter Solutions, highlighting a growing interest in the company.
• Perimeter Solutions reported better-than-expected earnings of $0.39 per share for the last quarter, surpassing analysts' estimates and indicating a strong revenue of $162.64 million.

Alyeska Investment Group L.P. acquired a new stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 800,000 shares of the company's stock, valued at approximately $8,056,000. Alyeska Investment Group L.P. owned about 0.54% of Perimeter Solutions as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System acquired a new stake in Perimeter Solutions during the first quarter valued at $123,000. Teacher Retirement System of Texas grew its position in Perimeter Solutions by 21.0% in the 1st quarter. Teacher Retirement System of Texas now owns 249,091 shares of the company's stock valued at $2,508,000 after acquiring an additional 43,247 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Perimeter Solutions during the first quarter worth about $3,479,000. SG Americas Securities LLC increased its holdings in Perimeter Solutions by 59.7% in the first quarter. SG Americas Securities LLC now owns 93,811 shares of the company's stock valued at $945,000 after buying an additional 35,078 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Perimeter Solutions by 15.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 54,573 shares of the company's stock valued at $550,000 after buying an additional 7,347 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Perimeter Solutions Stock Performance

NYSE:PRM traded down $0.09 during mid-day trading on Wednesday, hitting $22.11. The stock had a trading volume of 567,808 shares, compared to its average volume of 1,181,344. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $18.15 and a 200-day simple moving average of $13.49. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 51.42 and a beta of 2.00. Perimeter Solutions, SA has a 52 week low of $8.76 and a 52 week high of $23.79.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.11%. The company had revenue of $162.64 million for the quarter, compared to analyst estimates of $108.91 million. On average, research analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PRM shares. UBS Group lifted their price target on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Wall Street Zen lowered Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Morgan Stanley raised their price target on shares of Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Perimeter Solutions presently has an average rating of "Buy" and an average price target of $22.50.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, CFO Kyle Sable sold 40,000 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $22.05, for a total transaction of $882,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Emery sold 300,000 shares of Perimeter Solutions stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $22.28, for a total transaction of $6,684,000.00. The disclosure for this sale can be found here. 10.00% of the stock is 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.