Marshall Wace LLP Takes $598,000 Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Marshall Wace LLP purchased a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 58,301 shares of the company's stock, valued at approximately $598,000.

A number of other large investors have also modified their holdings of PCT. Vanguard Group Inc. increased its stake in PureCycle Technologies by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock valued at $144,530,000 after buying an additional 758,382 shares during the period. Ethos Financial Group LLC acquired a new position in shares of PureCycle Technologies during the fourth quarter valued at approximately $2,941,000. Drive Wealth Management LLC raised its holdings in PureCycle Technologies by 767.7% during the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company's stock worth $3,157,000 after purchasing an additional 272,527 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in PureCycle Technologies in the fourth quarter worth approximately $1,415,000. Finally, Gladstone Institutional Advisory LLC boosted its stake in PureCycle Technologies by 3.7% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company's stock valued at $35,492,000 after purchasing an additional 122,700 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Price Performance

Shares of PCT traded down $0.13 during midday trading on Tuesday, reaching $6.56. The stock had a trading volume of 1,540,006 shares, compared to its average volume of 2,341,540. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The company has a market capitalization of $1.18 billion, a P/E ratio of -4.37 and a beta of 1.68. The firm's 50 day moving average price is $7.18 and its 200-day moving average price is $9.69. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $15.58.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). On average, analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc bought 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The stock was acquired at an average cost of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the acquisition, the insider now directly owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 21.67% of the company's stock.

About PureCycle Technologies

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.