Perimeter Solutions, SA $PRM Shares Bought by Pennant Investors LP

Key Points

• Pennant Investors LP increased its investment in Perimeter Solutions, SA by 8.8%, making it the fund's 7th largest position with a total holding of approximately 2.47 million shares.
• Perimeter Solutions reported earnings per share (EPS) of $0.39 for the last quarter, surpassing analyst expectations of $0.28, with total revenue of $162.64 million.
• Research analysts have mixed sentiments on Perimeter Solutions, with Morgan Stanley raising its price target to $25.00 while Wall Street Zen downgraded the stock from "buy" to "hold."

Pennant Investors LP raised its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,470,000 shares of the company's stock after acquiring an additional 200,000 shares during the quarter. Perimeter Solutions makes up 6.5% of Pennant Investors LP's portfolio, making the stock its 7th biggest position. Pennant Investors LP owned 1.66% of Perimeter Solutions worth $24,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in PRM. Comerica Bank bought a new position in Perimeter Solutions during the 4th quarter valued at $38,000. Harbor Investment Advisory LLC boosted its stake in Perimeter Solutions by 25.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after acquiring an additional 1,899 shares during the last quarter. Xponance Inc. bought a new position in Perimeter Solutions during the 1st quarter valued at $101,000. Gilbert & Cook Inc. bought a new position in Perimeter Solutions during the 1st quarter valued at $104,000. Finally, New York State Teachers Retirement System bought a new position in Perimeter Solutions during the 1st quarter valued at $123,000. 89.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, major shareholder Windacre Partnership Master Fu acquired 254,600 shares of Perimeter Solutions stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PRM shares. Wall Street Zen cut shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. UBS Group increased their target price on shares of Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley increased their target price on shares of Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Perimeter Solutions has an average rating of "Buy" and a consensus target price of $22.50.

Perimeter Solutions Price Performance

Perimeter Solutions stock traded up $0.10 during trading hours on Tuesday, hitting $22.49. 1,428,235 shares of the company traded hands, compared to its average volume of 1,173,260. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $22.52. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57. The firm's 50-day simple moving average is $17.13 and its two-hundred day simple moving average is $13.04. The firm has a market cap of $3.29 billion, a P/E ratio of 52.29 and a beta of 2.00.

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