Neo Ivy Capital Management Makes New $2.02 Million Investment in Perimeter Solutions, SA $PRM

Key Points

• Neo Ivy Capital Management purchased a new stake of 90,062 shares in Perimeter Solutions (NYSE:PRM) in Q3, valued at about $2.02 million, representing roughly 0.06% ownership.
• Institutional investors own about 89.93% of PRM$115.2 million) and Quantbot Technologies boosting its position by 1,645.6%.
• Insiders have sold 325,000 shares (~$8.29 million) in the last 90 days, and analysts hold a consensus "Hold" rating with an average price target of $30.50 while PRM recently traded around $23.49.

Neo Ivy Capital Management purchased a new stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 90,062 shares of the company's stock, valued at approximately $2,016,000. Neo Ivy Capital Management owned 0.06% of Perimeter Solutions as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRM. Orion Porfolio Solutions LLC lifted its stake in shares of Perimeter Solutions by 68.8% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 24,551 shares of the company's stock valued at $550,000 after acquiring an additional 10,008 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Perimeter Solutions by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company's stock worth $115,188,000 after acquiring an additional 221,290 shares during the last quarter. Cresset Asset Management LLC bought a new position in Perimeter Solutions during the 3rd quarter worth approximately $217,000. Quantbot Technologies LP increased its stake in Perimeter Solutions by 1,645.6% in the 3rd quarter. Quantbot Technologies LP now owns 55,876 shares of the company's stock worth $1,251,000 after purchasing an additional 52,675 shares during the period. Finally, Choreo LLC purchased a new position in Perimeter Solutions in the 3rd quarter worth approximately $219,000. 89.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PRM shares. Weiss Ratings lowered Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Monday. Zacks Research downgraded shares of Perimeter Solutions from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 17th. Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a report on Monday, December 15th. Finally, UBS Group dropped their price target on shares of Perimeter Solutions from $31.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.50.

Perimeter Solutions Trading Down 3.5%

PRM opened at $23.49 on Friday. The business has a 50 day simple moving average of $26.88 and a two-hundred day simple moving average of $25.02. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -16.54 and a beta of 1.98. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.22 and a quick ratio of 1.72. Perimeter Solutions, SA has a one year low of $8.76 and a one year high of $29.88.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%.The business had revenue of $102.75 million during the quarter, compared to analysts' expectations of $94.05 million. Analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kyle Sable sold 100,000 shares of the firm's stock in a transaction on Friday, December 12th. The stock was sold at an average price of $28.47, for a total value of $2,847,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William N. Thorndike, Jr. sold 125,000 shares of Perimeter Solutions stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $24.26, for a total transaction of $3,032,500.00. Following the completion of the sale, the director owned 9,060,656 shares in the company, valued at approximately $219,811,514.56. This trade represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 325,000 shares of company stock valued at $8,285,500. 10.00% of the stock is owned by corporate insiders.

Perimeter Solutions Company Profile

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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