Y Intercept Hong Kong Ltd Invests $728,000 in Perimeter Solutions, SA $PRM

Key Points

• Y Intercept Hong Kong Ltd bought 29,804 shares of Perimeter Solutions in the first quarter, a stake valued at about $728,000.
• Institutional interest in Perimeter Solutions remains high, with hedge funds and other investors owning 89.93% of the stock and several firms recently increasing their positions.
• Wall Street analysts are broadly positive on PRM, with an average Buy rating and a consensus price target of $43, while the stock last traded at $34.29.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 29,804 shares of the company's stock, valued at approximately $728,000.

A number of other institutional investors have also recently made changes to their positions in the business. Abacus Wealth Partners LLC purchased a new stake in Perimeter Solutions in the fourth quarter valued at about $523,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Perimeter Solutions by 239.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company's stock worth $1,524,000 after acquiring an additional 38,703 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in shares of Perimeter Solutions by 395.5% during the third quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company's stock worth $3,244,000 after acquiring an additional 115,653 shares during the last quarter. Argos Wealth Advisors LLC purchased a new stake in shares of Perimeter Solutions during the fourth quarter worth about $961,000. Finally, SG Americas Securities LLC increased its holdings in shares of Perimeter Solutions by 197.2% during the fourth quarter. SG Americas Securities LLC now owns 230,940 shares of the company's stock valued at $6,358,000 after acquiring an additional 153,228 shares in the last quarter. Institutional investors and hedge funds own 89.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PRM. JPMorgan Chase & Co. began coverage on shares of Perimeter Solutions in a research report on Thursday. They issued an "overweight" rating and a $50.00 price objective for the company. UBS Group boosted their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Morgan Stanley upped their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Zacks Research raised shares of Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 14th. Finally, CJS Securities began coverage on shares of Perimeter Solutions in a research note on Tuesday, June 9th. They set a "market outperform" rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $43.00.

Perimeter Solutions Trading Down 0.1%

Shares of NYSE:PRM opened at $34.29 on Monday. Perimeter Solutions, SA has a 52-week low of $15.43 and a 52-week high of $38.17. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of -25.59 and a beta of 1.90. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $33.27 and a 200-day moving average price of $28.72.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The firm had revenue of $125.07 million during the quarter, compared to the consensus estimate of $121.80 million. Equities analysts predict that Perimeter Solutions, SA will post 1.78 EPS for the current year.

Insider Buying and Selling at Perimeter Solutions

In other news, CEO Haitham Khouri sold 117,511 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the sale, the chief executive officer directly owned 1,874,615 shares of the company's stock, valued at $58,469,241.85. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the completion of the sale, the insider directly owned 16,148,621 shares in the company, valued at $547,438,251.90. This trade represents a 10.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 6,385,514 shares of company stock valued at $217,464,393. 13.10% of the stock is currently owned by insiders.

Perimeter Solutions Company 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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