Envestnet Asset Management Inc. Acquires 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% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,266 shares of the company's stock after purchasing an additional 23,341 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of Perimeter Solutions worth $2,138,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PRM. Comerica Bank acquired a new stake in shares of Perimeter Solutions in the 4th quarter valued at about $38,000. Harbor Investment Advisory LLC raised its holdings in Perimeter Solutions by 25.6% during the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock worth $94,000 after purchasing an additional 1,899 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Perimeter Solutions during the first quarter worth $123,000. Tower Research Capital LLC TRC raised its holdings in shares of Perimeter Solutions by 90.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,665 shares of the company's stock worth $136,000 after acquiring an additional 5,054 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Perimeter Solutions in the fourth quarter worth $136,000. Hedge funds and other institutional investors own 89.93% of the company's stock.

Perimeter Solutions Stock Down 3.1%

Shares of NYSE PRM traded down $0.50 on Friday, hitting $15.63. The company had a trading volume of 1,103,299 shares, compared to its average volume of 1,145,746. Perimeter Solutions, SA has a 12-month low of $8.26 and a 12-month high of $17.40. The business has a 50 day moving average of $14.45 and a two-hundred day moving average of $12.10. The company has a quick ratio of 3.56, a current ratio of 5.23 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $2.31 billion, a P/E ratio of 19.79 and a beta of 1.95.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on PRM. Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Morgan Stanley lowered their price target on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, UBS Group boosted their price target on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th.

Insider Buying and Selling

In related news, Director Vivek Raj sold 32,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $11.70, for a total value of $374,400.00. Following the completion of the transaction, the director directly owned 68,132 shares of the company's stock, valued at $797,144.40. This represents a 31.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the firm's stock in a transaction on Friday, June 27th. The shares were purchased at an average cost of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the purchase, the insider owned 21,854,600 shares in the company, valued at $305,527,308. This represents a 1.18% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 303,094 shares of company stock worth $3,587,021 over the last quarter. Insiders own 10.00% of the company's stock.

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.