Argos Wealth Advisors LLC Purchases Shares of 34,900 Perimeter Solutions, SA $PRM

Key Points

• Argos Wealth Advisors bought a new stake in Perimeter Solutions, acquiring 34,900 shares valued at about $961,000 in the fourth quarter.
• Recent insider selling has been notable: CFO Kyle Sable and insider Jeffrey Emery sold large blocks of shares, and insiders have sold 796,923 shares worth about $21.9 million over the last 90 days.
• Perimeter Solutions reported better-than-expected quarterly results, with EPS of $0.06 versus $0.02 expected and revenue of $125.07 million, while analysts currently rate the stock Moderate Buy with an average target price of $37.00.

Argos Wealth Advisors LLC bought a new position in Perimeter Solutions, SA (NYSE:PRM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,900 shares of the company's stock, valued at approximately $961,000.

Several other large investors have also made changes to their positions in PRM. Comerica Bank grew its holdings in shares of Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company's stock worth $43,000 after purchasing an additional 1,324 shares during the last quarter. Royal Bank of Canada grew its holdings in Perimeter Solutions by 100.0% during the 1st quarter. Royal Bank of Canada now owns 80,608 shares of the company's stock worth $812,000 after acquiring an additional 40,294 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Perimeter Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company's stock worth $801,000 after acquiring an additional 3,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Perimeter Solutions by 4.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company's stock worth $3,305,000 after acquiring an additional 14,949 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in Perimeter Solutions during the 2nd quarter worth about $2,128,000. Institutional investors own 89.93% of the company's stock.

Insider Transactions at Perimeter Solutions

In related news, insider Jeffrey Emery sold 99,963 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $32.92, for a total value of $3,290,781.96. Following the completion of the transaction, the insider directly owned 46,500 shares of the company's stock, valued at approximately $1,530,780. This trade represents a 68.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kyle Sable sold 150,000 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $31.52, for a total transaction of $4,728,000.00. Following the completion of the transaction, the chief financial officer directly owned 20,000 shares of the company's stock, valued at $630,400. This represents a 88.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 796,923 shares of company stock valued at $21,854,961 in the last ninety days. 13.10% of the stock is currently owned by corporate insiders.

Perimeter Solutions Price Performance

Shares of PRM opened at $32.09 on Wednesday. The stock has a market capitalization of $5.23 billion, a P/E ratio of -23.95 and a beta of 1.93. Perimeter Solutions, SA has a twelve month low of $11.55 and a twelve month high of $34.29. The company has a 50 day moving average of $25.83 and a 200-day moving average of $26.43. The company has a quick ratio of 2.42, a current ratio of 3.09 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The company had revenue of $125.07 million during the quarter, compared to analysts' expectations of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. As a group, equities research analysts forecast that Perimeter Solutions, SA will post 1.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PRM. UBS Group upped their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Zacks Research upgraded shares of Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of Perimeter Solutions from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday. Wall Street Zen upgraded shares of Perimeter Solutions from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Morgan Stanley increased their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.00.

About Perimeter Solutions

Perimeter Solutions Ltd. NYSE: PRM is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company's core product portfolio spans several key segments.

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