Conestoga Capital Advisors LLC Buys 546,020 Shares of Perimeter Solutions, SA $PRM

Key Points

• Conestoga Capital Advisors more than doubled its Perimeter Solutions stake in the third quarter, buying 546,020 shares to reach 1,081,985 shares, valued at about $28.5 million.
• Institutional investors own 89.93% of the company’s shares. PRM recently opened at $28.10, down 1.5%.
• Analysts’ consensus rating is Moderate Buy, with a $41.50 average price target; views range from Buy to Sell.

Conestoga Capital Advisors LLC increased its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 101.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,081,985 shares of the company's stock after purchasing an additional 546,020 shares during the period. Conestoga Capital Advisors LLC owned 0.66% of Perimeter Solutions worth $28,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new stake in Perimeter Solutions during the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Perimeter Solutions by 20.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company's stock valued at $56,000 after acquiring an additional 383 shares during the last quarter. State of Wyoming raised its holdings in shares of Perimeter Solutions by 60.8% during the third quarter. State of Wyoming now owns 2,176 shares of the company's stock valued at $57,000 after acquiring an additional 823 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Perimeter Solutions by 56.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,918 shares of the company's stock valued at $80,000 after acquiring an additional 1,051 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Perimeter Solutions by 1,512.7% in the first quarter. Assetmark Inc. now owns 4,064 shares of the company's stock valued at $99,000 after acquiring an additional 3,812 shares in the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

Perimeter Solutions Stock Down 1.5%

PRM stock opened at $28.10 on Thursday. The company has a market cap of $4.60 billion, a price-to-earnings ratio of -12.60 and a beta of 1.91. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.19. Perimeter Solutions, SA has a 12 month low of $20.38 and a 12 month high of $38.17. The firm has a 50-day moving average of $29.12 and a two-hundred day moving average of $29.59.

Wall Street Analyst Weigh In

PRM has been the topic of a number of research analyst reports. Zacks Research raised Perimeter Solutions from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 15th. Weiss Ratings raised Perimeter Solutions from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, October 19th. JPMorgan Chase & Co. reduced their price objective on Perimeter Solutions from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, October 13th. UBS Group decreased their price objective on Perimeter Solutions from $42.00 to $38.00 and set a "buy" rating on the stock in a report on Tuesday, September 29th. Finally, Wall Street Zen cut shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $41.50.

About Perimeter Solutions

Perimeter Solutions, Inc NYSE: PRM is a specialty chemicals and fire-safety company that develops and supplies products used to prevent, control and suppress fires, as well as chemicals used in industrial applications. Its operations are organized primarily around fire-safety products and performance chemicals.

The company's fire-safety portfolio includes PHOS-CHEK-branded wildfire retardants, firefighting foams, gels and other suppression products. These solutions are used by government agencies, fire departments, aviation and industrial customers, and other organizations involved in wildfire response, emergency preparedness and fire protection.

Perimeter Solutions also produces phosphorus-based specialty chemicals, including phosphorus pentasulfide, which is used in applications such as lubricant additives and other industrial processes.

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