315,150 Shares in Perimeter Solutions, SA $PRM Acquired by TenCore Partners LP

Key Points

• TenCore Partners LP purchased 315,150 shares of Perimeter Solutions, SA, valued at approximately $3.17 million, making it the firm's 11th biggest position in its investment portfolio.
• Many institutional investors, including Pacer Advisors Inc. and Raymond James Financial Inc., have recently increased their stakes in Perimeter Solutions, indicating growing institutional interest with 89.93% ownership now held by such investors.
• Perimeter Solutions reported earnings per share of $0.39, surpassing estimates of $0.28, and achieved revenue of $162.64 million for the quarter, significantly higher than the estimated $108.91 million.

TenCore Partners LP acquired a new position in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 315,150 shares of the company's stock, valued at approximately $3,174,000. Perimeter Solutions accounts for 1.7% of TenCore Partners LP's investment portfolio, making the stock its 11th biggest holding. TenCore Partners LP owned 0.21% of Perimeter Solutions at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Comerica Bank acquired a new stake in Perimeter Solutions during the 4th quarter valued at approximately $38,000. Harbor Investment Advisory LLC increased its position in shares of 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 purchasing an additional 1,899 shares during the last quarter. Xponance Inc. purchased a new stake in Perimeter Solutions in the 1st quarter worth about $101,000. Gilbert & Cook Inc. purchased a new stake in Perimeter Solutions in the 1st quarter worth about $104,000. Finally, New York State Teachers Retirement System purchased a new position in Perimeter Solutions during the 1st quarter valued at about $123,000. Institutional investors own 89.93% of the company's stock.

Insider Activity

In related news, insider Jeffrey Emery sold 300,000 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $22.28, for a total transaction of $6,684,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sable sold 40,000 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $22.05, for a total value of $882,000.00. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Perimeter Solutions Trading Down 0.7%

PRM traded down $0.17 during trading hours on Wednesday, reaching $22.04. 1,033,215 shares of the company's stock traded hands, compared to its average volume of 1,184,235. The firm has a 50-day moving average price of $18.15 and a 200 day moving average price of $13.49. Perimeter Solutions, SA has a 52-week low of $8.76 and a 52-week high of $23.79. 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 has a market capitalization of $3.23 billion, a PE ratio of 51.25 and a beta of 2.00.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.39 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $108.91 million. As a group, sell-side analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRM. Wall Street Zen downgraded Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. UBS Group upped their price target on Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley lifted their price target on Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus 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.