Victory Capital Management Inc. Acquires 56,867 Shares of Perimeter Solutions, SA (NYSE:PRM)

Key Points

• Victory Capital Management Inc. increased its holdings in Perimeter Solutions, SA by 73.9%, owning 133,869 shares valued at approximately $1.35 million as of the latest SEC filing.
• Brokerages have given mixed ratings to Perimeter Solutions; UBS Group raised its price target to $20.00 while Wall Street Zen downgraded their rating from "buy" to "hold."
• Insider trading activity includes a significant purchase of 254,600 shares by major shareholder Windacre Partnership Master Fu, while Director Vivek Raj sold 32,000 shares recently.

Victory Capital Management Inc. lifted its holdings in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 73.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,869 shares of the company's stock after purchasing an additional 56,867 shares during the period. Victory Capital Management Inc. owned about 0.09% of Perimeter Solutions worth $1,348,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Comerica Bank bought a new stake in Perimeter Solutions in the 4th quarter worth approximately $38,000. Harbor Investment Advisory LLC raised its holdings in shares of Perimeter Solutions by 25.6% during the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after acquiring an additional 1,899 shares in the last quarter. Xponance Inc. bought a new position in shares of Perimeter Solutions during the first quarter valued at approximately $101,000. New York State Teachers Retirement System bought a new position in Perimeter Solutions in the first quarter worth $123,000. Finally, Tower Research Capital LLC TRC raised its holdings in Perimeter Solutions by 90.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,665 shares of the company's stock worth $136,000 after purchasing an additional 5,054 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Vivek Raj sold 100,000 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.78, for a total transaction of $1,178,000.00. Following the completion of the sale, the director owned 168,942 shares in the company, valued at approximately $1,990,136.76. This trade represents a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the company's stock in a transaction on Friday, June 27th. The stock was acquired at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the purchase, the insider directly owned 21,854,600 shares in the company, valued at $305,527,308. This trade represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 303,094 shares of company stock valued at $3,587,021. Company insiders own 10.00% of the company's stock.

Perimeter Solutions Stock Performance

Shares of Perimeter Solutions stock traded down $0.50 during trading hours on Friday, reaching $15.63. 1,103,299 shares of the stock traded hands, compared to its average volume of 1,056,563. The company has a 50 day moving average price of $14.53 and a 200 day moving average price of $12.11. Perimeter Solutions, SA has a one year low of $8.26 and a one year high of $17.40. The company has a quick ratio of 3.56, a current ratio of 5.23 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 19.79 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.12. Perimeter Solutions had a net margin of 23.23% and a negative return on equity of 4.33%. The company had revenue of $72.03 million for the quarter, compared to the consensus estimate of $75.00 million. On average, equities research analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group upped their price target on shares of Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Morgan Stanley dropped their price target on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Wall Street Zen cut shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th.

About Perimeter Solutions

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.