Envestnet Asset Management Inc. Purchases 23,341 Shares of Perimeter Solutions, SA (NYSE:PRM)

Envestnet Asset Management Inc. boosted its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 12.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 212,266 shares of the company's stock after purchasing an additional 23,341 shares during the period. Envestnet Asset Management Inc. owned 0.14% of Perimeter Solutions worth $2,138,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PRM. Comerica Bank acquired a new stake in shares of Perimeter Solutions in the fourth quarter valued at approximately $38,000. Harbor Investment Advisory LLC raised its position in shares of Perimeter Solutions by 25.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after buying an additional 1,899 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Perimeter Solutions during the first quarter worth $123,000. Tower Research Capital LLC TRC boosted its stake in Perimeter Solutions by 90.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,665 shares of the company's stock valued at $136,000 after buying an additional 5,054 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in Perimeter Solutions in the fourth quarter valued at about $136,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Trading Down 3.1%

Shares of NYSE:PRM traded down $0.50 during midday trading on Friday, reaching $15.63. The company's stock had a trading volume of 1,103,299 shares, compared to its average volume of 1,056,563. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 19.79 and a beta of 1.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.56 and a current ratio of 5.23. The firm has a 50 day moving average price of $14.53 and a two-hundred day moving average price of $12.12. Perimeter Solutions, SA has a fifty-two week low of $8.26 and a fifty-two week high of $17.40.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.12. The company had revenue of $72.03 million for the quarter, compared to the consensus estimate of $75.00 million. Perimeter Solutions had a negative return on equity of 4.33% and a net margin of 23.23%. As a group, analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PRM. UBS Group raised their price target on shares of 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 reduced their price objective on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th.

Insider Buying and Selling

In other Perimeter Solutions news, major shareholder Windacre Partnership Master Fu acquired 254,600 shares of Perimeter Solutions stock in a transaction dated Friday, June 27th. The stock was purchased at an average cost of $13.98 per share, for a total transaction of $3,559,308.00. Following the completion of the acquisition, the insider directly owned 21,854,600 shares of the company's stock, valued at $305,527,308. This represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vivek Raj sold 100,000 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.78, for a total transaction of $1,178,000.00. Following the sale, the director directly owned 168,942 shares of the company's stock, valued at approximately $1,990,136.76. The trade was a 37.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,094 shares of company stock worth $3,587,021. 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.