Squarepoint Ops LLC Increases Stock Position in Perimeter Solutions, SA $PRM

Key Points

• Squarepoint Ops LLC doubled its Perimeter Solutions stake by 101.2% in the second quarter, holding 166,187 shares worth approximately $5.9 million. Institutional investors collectively own 89.93% of the company.
• Insiders have been selling shares: Windacre Partnership sold 1.875 million shares for about $63.6 million, while insiders sold 5.7 million shares worth $195.6 million over the past three months.
• Analyst sentiment is mixed, with recent downgrades and a consensus “Hold” rating alongside a $41.75 target price. Perimeter Solutions also missed quarterly earnings expectations, reporting $0.35 EPS versus the $0.43 consensus estimate.

Squarepoint Ops LLC increased its holdings in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 101.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 166,187 shares of the company's stock after purchasing an additional 83,581 shares during the period. Squarepoint Ops LLC owned 0.10% of Perimeter Solutions worth $5,925,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PRM. Financial Management Professionals Inc. purchased a new stake in Perimeter Solutions during the second quarter worth $26,000. Arax Advisory Partners increased its holdings in shares of Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company's stock valued at $29,000 after acquiring an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company's stock worth $31,000 after acquiring an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Perimeter Solutions in the 2nd quarter worth $42,000. Finally, Comerica Bank lifted its stake in shares of Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company's stock worth $43,000 after purchasing an additional 1,324 shares during the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Perimeter Solutions

In related news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total value of $63,562,500.00. Following the sale, the insider owned 16,148,621 shares in the company, valued at $547,438,251.90. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 5,705,979 shares of company stock worth $195,617,982 over the last three months. Insiders own 13.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PRM. Zacks Research downgraded Perimeter Solutions from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Weiss Ratings lowered shares of Perimeter Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 12th. CJS Securities assumed coverage on shares of Perimeter Solutions in a report on Tuesday, June 9th. They issued a "market outperform" rating and a $48.00 price target on the stock. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Perimeter Solutions from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $41.75.

Perimeter Solutions Trading Up 3.7%

NYSE:PRM opened at $31.67 on Friday. The company has a market capitalization of $5.18 billion, a P/E ratio of -14.20 and a beta of 1.90. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.19. Perimeter Solutions, SA has a 12 month low of $19.70 and a 12 month high of $38.17. The firm has a fifty day simple moving average of $33.03 and a 200-day simple moving average of $30.41.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The firm had revenue of $213.81 million during the quarter, compared to analysts' expectations of $216.89 million. Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%. On average, equities research analysts anticipate that Perimeter Solutions, SA will post 1.54 earnings per share for the current year.

About Perimeter Solutions

Perimeter Solutions, Inc is a specialty chemicals and fire-safety company that develops, manufactures and supplies products used in wildfire control, industrial fire protection and chemical applications. The company serves customers across North America and international markets through a portfolio of fire-safety and specialty chemical products.

Its fire-safety business provides firefighting foams, fire retardants and related solutions for wildland firefighting, aviation, military, industrial and municipal applications.

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