Tudor Investment Corp ET AL Grows Stock Position in Perimeter Solutions, SA $PRM

Key Points

• Tudor Investment Corp ET AL boosted its stake in Perimeter Solutions by 395.5% in Q3, adding 115,653 shares to hold 144,893 shares valued at about $3.24 million (roughly 0.10% of the company).
• Perimeter beat expectations with Q4 results of $0.13 EPS vs. $0.09 consensus and $102.75M revenue vs. $94.05M, while the stock trades near $25.45, has a $3.8B market cap and a negative P/E of -17.92.
• Insider selling is notable—Director William N. Thorndike Jr. sold 125,000 shares and insiders sold 450,000 shares (~$10.7M) in the last three months—yet institutional ownership is high at 89.93% and analysts' consensus is a Hold with an average price target of $32.50.

Tudor Investment Corp ET AL boosted its position in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 395.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,893 shares of the company's stock after buying an additional 115,653 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.10% of Perimeter Solutions worth $3,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Cambria Investment Management L.P. grew its position in shares of Perimeter Solutions by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 60,959 shares of the company's stock valued at $1,365,000 after purchasing an additional 12,186 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Perimeter Solutions by 416.7% in the third quarter. CIBC Private Wealth Group LLC now owns 7,750 shares of the company's stock valued at $174,000 after purchasing an additional 6,250 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Perimeter Solutions in the third quarter valued at $332,000. XTX Topco Ltd purchased a new position in shares of Perimeter Solutions in the third quarter valued at $1,164,000. Finally, Voleon Capital Management LP purchased a new position in shares of Perimeter Solutions in the third quarter valued at $614,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Perimeter Solutions Price Performance

Perimeter Solutions stock opened at $25.45 on Friday. Perimeter Solutions, SA has a 52 week low of $9.56 and a 52 week high of $29.88. The business has a 50-day simple moving average of $24.50 and a 200 day simple moving average of $25.31. The company has a quick ratio of 2.42, a current ratio of 3.22 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of -17.92 and a beta of 1.90.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its earnings results on Friday, February 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%.The business had revenue of $102.75 million during the quarter, compared to analysts' expectations of $94.05 million. On average, research analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William N. Thorndike, Jr. sold 125,000 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $23.37, for a total transaction of $2,921,250.00. Following the completion of the transaction, the director directly owned 8,735,656 shares in the company, valued at $204,152,280.72. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 450,000 shares of company stock worth $10,722,750 in the last three months. 10.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PRM shares. Zacks Research cut Perimeter Solutions from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 17th. Weiss Ratings cut Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Monday, March 2nd. UBS Group upgraded Perimeter Solutions from a "neutral" rating to a "buy" rating and lifted their price target for the company from $26.00 to $30.00 in a research report on Tuesday, March 31st. Finally, Morgan Stanley set a $35.00 price target on Perimeter Solutions in a research report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $32.50.

Perimeter Solutions Profile

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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