SG Americas Securities LLC Sells 180,021 Shares of Perimeter Solutions, SA $PRM

Key Points

• SG Americas Securities cut its Perimeter Solutions stake by 78% in the first quarter, selling 180,021 shares and leaving it with 50,919 shares valued at about $1.24 million.
• Insider selling has been heavy, with CFO Kyle Sable and insider Jeffrey Emery both making large stock sales in May; insiders sold a total of 6.39 million shares worth about $217.5 million over the last 90 days.
• Despite the selling, Perimeter Solutions beat earnings expectations for the quarter and analysts remain mostly positive, with a consensus rating of Buy and an average price target of $40.67.

SG Americas Securities LLC decreased its position in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 78.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,919 shares of the company's stock after selling 180,021 shares during the quarter. SG Americas Securities LLC's holdings in Perimeter Solutions were worth $1,243,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Abacus Wealth Partners LLC purchased a new position in Perimeter Solutions during the 4th quarter valued at about $523,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Perimeter Solutions by 239.0% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company's stock worth $1,524,000 after purchasing an additional 38,703 shares during the period. Tudor Investment Corp ET AL lifted its holdings in Perimeter Solutions by 395.5% in the third quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company's stock worth $3,244,000 after buying an additional 115,653 shares during the period. Quantbot Technologies LP lifted its stake in shares of Perimeter Solutions by 1,645.6% in the 3rd quarter. Quantbot Technologies LP now owns 55,876 shares of the company's stock valued at $1,251,000 after purchasing an additional 52,675 shares during the period. Finally, Argos Wealth Advisors LLC bought a new stake in shares of Perimeter Solutions during the 4th quarter valued at $961,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jeffrey Emery sold 99,963 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $32.92, for a total transaction of $3,290,781.96. Following the sale, the insider owned 46,500 shares in the company, valued at $1,530,780. This represents a 68.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kyle Sable sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $31.52, for a total transaction of $4,728,000.00. Following the sale, the chief financial officer directly owned 20,000 shares of the company's stock, valued at $630,400. This trade represents a 88.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,385,514 shares of company stock valued at $217,464,393 over the last ninety days. 13.10% of the stock is currently owned by corporate insiders.

Perimeter Solutions Price Performance

Shares of NYSE:PRM opened at $33.86 on Friday. The business has a fifty day moving average price of $32.96 and a 200-day moving average price of $28.50. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. The company has a market capitalization of $5.52 billion, a PE ratio of -25.27 and a beta of 1.90. Perimeter Solutions, SA has a 1-year low of $15.00 and a 1-year high of $38.17.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. The company had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. As a group, equities analysts expect that Perimeter Solutions, SA will post 1.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on PRM. CJS Securities started coverage on shares of Perimeter Solutions in a research note on Tuesday, June 9th. They set a "market outperform" rating and a $48.00 price objective on the stock. Weiss Ratings raised shares of Perimeter Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, June 17th. Morgan Stanley lifted their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Zacks Research raised Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Finally, UBS Group upped their price target on Perimeter Solutions from $30.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $40.67.

About Perimeter Solutions

Perimeter Solutions Ltd. NYSE: PRM is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company's core product portfolio spans several key segments.

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