TenCore Partners LP Takes $3.17 Million Position in Perimeter Solutions, SA $PRM

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 stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 315,150 shares of the company's stock, valued at approximately $3,174,000. Perimeter Solutions comprises about 1.7% of TenCore Partners LP's investment portfolio, making the stock its 11th largest holding. TenCore Partners LP owned 0.21% of Perimeter Solutions as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new position in shares of Perimeter Solutions during the first quarter worth about $13,743,000. Alyeska Investment Group L.P. acquired a new stake in shares of Perimeter Solutions during the first quarter worth $8,056,000. Raymond James Financial Inc. boosted its holdings in shares of Perimeter Solutions by 364.0% in the first quarter. Raymond James Financial Inc. now owns 926,084 shares of the company's stock valued at $9,326,000 after acquiring an additional 726,484 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Perimeter Solutions by 2,927.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 438,784 shares of the company's stock valued at $4,419,000 after purchasing an additional 424,290 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Perimeter Solutions during the first quarter worth $3,515,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Perimeter Solutions

In other news, CFO Kyle Sable sold 40,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $22.05, for a total value of $882,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Emery sold 300,000 shares of Perimeter Solutions stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $22.28, for a total transaction of $6,684,000.00. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company's stock.

Analysts Set New Price Targets

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

Perimeter Solutions Trading Up 0.1%

NYSE:PRM traded up $0.02 on Friday, hitting $22.22. 252,726 shares of the stock were exchanged, compared to its average volume of 1,179,555. The stock has a fifty day moving average of $18.42 and a 200-day moving average of $13.63. The stock has a market cap of $3.25 billion, a PE ratio of 51.68 and a beta of 2.00. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57. Perimeter Solutions, SA has a fifty-two week low of $8.76 and a fifty-two week high of $23.79.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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, equities analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

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.