PDT Partners LLC Sells 32,630 Shares of Perimeter Solutions, SA $PRM

Key Points

• PDT Partners LLC reduced its holdings in Perimeter Solutions, SA by 31.3%, owning 71,754 shares valued at $723,000 after selling 32,630 shares in Q1.
• Major shareholder Windacre Partnership Master Fu purchased 254,600 shares at $13.98 each, increasing their total stake to 21,854,600 shares.
• UBS and Morgan Stanley raised their price targets for Perimeter Solutions to $20.00 and $25.00 respectively, while the average rating remains a "Buy" with a target of $22.50.

PDT Partners LLC lessened its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 31.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,754 shares of the company's stock after selling 32,630 shares during the quarter. PDT Partners LLC's holdings in Perimeter Solutions were worth $723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Comerica Bank acquired a new position in shares of Perimeter Solutions in the fourth quarter worth about $38,000. Harbor Investment Advisory LLC lifted its stake in shares of Perimeter Solutions by 25.6% in the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock worth $94,000 after acquiring an additional 1,899 shares in the last quarter. Xponance Inc. acquired a new position in shares of Perimeter Solutions in the first quarter worth about $101,000. Gilbert & Cook Inc. acquired a new position in shares of Perimeter Solutions in the first quarter worth about $104,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Perimeter Solutions in the fourth quarter worth about $136,000. Institutional investors and hedge funds own 89.93% of the company's stock.

Insider Buying and Selling

In related news, CFO Kyle Sable sold 40,000 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $22.05, for a total value of $882,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Windacre Partnership Master Fu bought 254,600 shares of Perimeter Solutions stock in a transaction that occurred on Friday, June 27th. The stock was bought 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 approximately $305,527,308. This trade represents a 1.18% increase in their position. The disclosure for this purchase can be found here. 10.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group upped their price objective on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Morgan Stanley raised their target price on Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Finally, Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $22.50.

Perimeter Solutions Stock Down 4.6%

Shares of NYSE:PRM traded down $1.07 during midday trading on Tuesday, hitting $21.92. 291,449 shares of the stock were exchanged, compared to its average volume of 1,180,369. Perimeter Solutions, SA has a 52-week low of $8.76 and a 52-week high of $23.79. The business's fifty day simple moving average is $17.98 and its two-hundred day simple moving average is $13.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.60 and a current ratio of 4.04. The company has a market capitalization of $3.21 billion, a PE ratio of 50.97 and a beta of 2.00.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.11. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%.The firm had revenue of $162.64 million for the quarter, compared to analyst estimates of $108.91 million. As a group, research analysts predict that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Perimeter Solutions Company Profile

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.