Perimeter Solutions, SA $PRM Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. has drastically reduced its stake in Perimeter Solutions, SA by 80.6% during the first quarter, leaving it with only 26,272 shares.
• Insider trades include Director Vivek Raj selling 32,000 shares at an average price of $11.70, resulting in a significant decrease in his ownership of the stock.
• Perimeter Solutions reported a quarterly revenue of $162.64 million, surpassing expectations, and a quarterly EPS of $0.39, exceeding estimates by $0.11.

PNC Financial Services Group Inc. cut its stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 80.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,272 shares of the company's stock after selling 109,348 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Perimeter Solutions were worth $265,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PRM. Comerica Bank purchased a new position in Perimeter Solutions in the fourth quarter valued at about $38,000. Harbor Investment Advisory LLC raised its position in Perimeter Solutions by 25.6% in the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after purchasing an additional 1,899 shares during the period. Xponance Inc. purchased a new position in Perimeter Solutions in the first quarter valued at about $101,000. Gilbert & Cook Inc. purchased a new position in Perimeter Solutions in the first quarter valued at about $104,000. Finally, New York State Teachers Retirement System purchased a new position in Perimeter Solutions in the first quarter valued at about $123,000. 89.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Perimeter Solutions news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average cost of $13.98 per share, for a total transaction of $3,559,308.00. Following the transaction, the insider directly owned 21,854,600 shares in the company, valued at $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.

Perimeter Solutions Stock Performance

PRM traded up $0.2370 during trading hours on Thursday, hitting $18.6570. The company's stock had a trading volume of 820,164 shares, compared to its average volume of 1,090,833. Perimeter Solutions, SA has a fifty-two week low of $8.76 and a fifty-two week high of $18.76. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.73 billion, a PE ratio of 43.39 and a beta of 1.96. The company has a 50-day simple moving average of $15.98 and a 200 day simple moving average of $12.56.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.39 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $108.91 million. As a group, sell-side analysts expect that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Morgan Stanley decreased their price target on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, UBS Group raised their price target on Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Perimeter Solutions has a consensus rating of "Buy" and an average target price of $18.50.

Perimeter Solutions 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.