Harbert Fund Advisors Inc. Purchases Shares of 55,000 Perimeter Solutions, SA (NYSE:PRM)

Harbert Fund Advisors Inc. purchased a new position in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 55,000 shares of the company's stock, valued at approximately $703,000.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Perimeter Solutions by 136.8% during the fourth quarter. Vanguard Group Inc. now owns 8,211,593 shares of the company's stock worth $104,944,000 after purchasing an additional 4,744,069 shares in the last quarter. Corient Private Wealth LLC purchased a new position in Perimeter Solutions in the 4th quarter valued at approximately $41,780,000. JPMorgan Chase & Co. grew its stake in shares of Perimeter Solutions by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company's stock worth $74,847,000 after acquiring an additional 971,623 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Perimeter Solutions by 10,103.3% during the fourth quarter. Bessemer Group Inc. now owns 923,811 shares of the company's stock worth $11,806,000 after acquiring an additional 914,757 shares during the period. Finally, Catawba River Capital acquired a new stake in shares of Perimeter Solutions in the fourth quarter valued at $7,658,000. Institutional investors and hedge funds own 89.93% of the company's stock.

Analyst Upgrades and Downgrades

Separately, UBS Group raised Perimeter Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Wednesday, March 26th.

Perimeter Solutions Stock Performance

PRM stock traded down $0.02 during trading on Wednesday, hitting $9.90. The company had a trading volume of 193,256 shares, compared to its average volume of 905,231. Perimeter Solutions, SA has a 1-year low of $6.84 and a 1-year high of $14.44. The firm has a 50-day moving average price of $10.12 and a 200-day moving average price of $11.99. The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.48 billion, a PE ratio of -70.71 and a beta of 1.88.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.21. The business had revenue of $86.23 million during the quarter, compared to analysts' expectations of $77.01 million. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. On average, analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insiders Place Their Bets

In other Perimeter Solutions news, Director Vivek Raj sold 250,000 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $9.17, for a total transaction of $2,292,500.00. Following the sale, the director now directly owns 471,226 shares in the company, valued at approximately $4,321,142.42. The trade was a 34.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.70% of the stock is currently owned by insiders.

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.