150,000 Shares in Perimeter Solutions, SA (NYSE:PRM) Bought by Pacific Capital Partners Ltd

Key Points

• Pacific Capital Partners Ltd acquired 150,000 shares of Perimeter Solutions, SA, valued at approximately $1.51 million, making it the 28th largest holding in their portfolio.
• The stock has seen significant interest from institutional investors, with 89.93% of Perimeter Solutions currently owned by them following several large purchases in the first quarter.
• Analyst ratings vary, with UBS raising their price target to $20 and Morgan Stanley lowering it to $17, while Wall Street Zen downgraded the stock from "buy" to "hold".

Pacific Capital Partners Ltd bought a new stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 150,000 shares of the company's stock, valued at approximately $1,510,000. Perimeter Solutions accounts for about 1.0% of Pacific Capital Partners Ltd's portfolio, making the stock its 28th largest holding. Pacific Capital Partners Ltd owned about 0.10% of Perimeter Solutions at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. XTX Topco Ltd raised its holdings in Perimeter Solutions by 254.4% during the 1st quarter. XTX Topco Ltd now owns 110,363 shares of the company's stock valued at $1,111,000 after acquiring an additional 79,222 shares during the period. Equitable Trust Co. lifted its holdings in Perimeter Solutions by 16.5% during the 1st quarter. Equitable Trust Co. now owns 2,137,121 shares of the company's stock worth $21,521,000 after purchasing an additional 302,774 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Perimeter Solutions during the 1st quarter valued at about $13,743,000. Navellier & Associates Inc. increased its position in shares of Perimeter Solutions by 59.7% during the first quarter. Navellier & Associates Inc. now owns 92,393 shares of the company's stock valued at $983,000 after buying an additional 34,546 shares during the period. Finally, Gilbert & Cook Inc. bought a new position in shares of Perimeter Solutions in the first quarter valued at approximately $104,000. Institutional investors own 89.93% of the company's stock.

Insiders Place Their Bets

In related news, Director Vivek Raj sold 100,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 168,942 shares of the company's stock, valued at approximately $1,990,136.76. This represents a 37.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the company's stock in a transaction that occurred 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 trade represents a 1.18% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 303,094 shares of company stock valued at $3,587,021. 10.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PRM shares. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. UBS Group upped their target price on Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley decreased their price target on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th.

Perimeter Solutions Price Performance

PRM traded down $0.50 on Friday, hitting $15.63. 1,103,299 shares of the company were exchanged, compared to its average volume of 1,056,563. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.23 and a quick ratio of 3.56. The firm has a fifty day simple moving average of $14.45 and a two-hundred day simple moving average of $12.10. Perimeter Solutions, SA has a 12 month low of $8.26 and a 12 month high of $17.40.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $72.03 million during the quarter, compared to analysts' expectations of $75.00 million. Equities research analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

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.