Maverick Capital Ltd. Acquires 38,404 Shares of Perimeter Solutions, SA $PRM

Key Points

• Maverick Capital Ltd. increased its stake in Perimeter Solutions by 127.6%, holding 68,499 shares valued at $690,000 after purchasing an additional 38,404 shares.
• Perimeter Solutions reported $0.39 earnings per share for the last quarter, exceeding the consensus estimate of $0.28, with revenues of $162.64 million compared to an expected $108.91 million.
• The company has seen significant support from institutional investors, with 89.93% of the stock owned by this group, indicating strong confidence in its future performance.

Maverick Capital Ltd. increased its holdings in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 127.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,499 shares of the company's stock after purchasing an additional 38,404 shares during the period. Maverick Capital Ltd.'s holdings in Perimeter Solutions were worth $690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Comerica Bank bought a new stake in Perimeter Solutions in the fourth quarter worth $38,000. Harbor Investment Advisory LLC increased its holdings 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 buying an additional 1,899 shares during the period. Xponance Inc. purchased a new position in shares of Perimeter Solutions in the first quarter worth about $101,000. Gilbert & Cook Inc. bought a new stake in shares of Perimeter Solutions in the 1st quarter valued at about $104,000. Finally, New York State Teachers Retirement System purchased a new stake in Perimeter Solutions during the 1st quarter valued at about $123,000. Institutional investors own 89.93% of the company's stock.

Perimeter Solutions Trading Up 0.1%

NYSE PRM traded up $0.03 on Friday, hitting $22.31. The company's stock had a trading volume of 1,561,942 shares, compared to its average volume of 1,183,646. The firm has a market cap of $3.27 billion, a P/E ratio of 51.88 and a beta of 2.00. Perimeter Solutions, SA has a 52-week low of $8.76 and a 52-week high of $23.79. The company's 50-day simple moving average is $17.64 and its 200 day simple moving average is $13.24. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57.

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

Insider Buying and Selling

In other news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of Perimeter Solutions stock in a transaction on Friday, June 27th. The shares were purchased at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the acquisition, the insider owned 21,854,600 shares of the company's stock, valued at approximately $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.