Pennant Investors LP Trims Stock Holdings in Perimeter Solutions, SA (NYSE:PRM)

Pennant Investors LP lowered its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,270,000 shares of the company's stock after selling 430,000 shares during the period. Perimeter Solutions accounts for 8.3% of Pennant Investors LP's holdings, making the stock its 4th biggest position. Pennant Investors LP owned about 1.55% of Perimeter Solutions worth $29,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PRM. Summit Investment Advisors Inc. boosted its stake in shares of Perimeter Solutions by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,000 shares of the company's stock worth $179,000 after acquiring an additional 889 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Perimeter Solutions by 14.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 11,794 shares of the company's stock valued at $151,000 after purchasing an additional 1,519 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Perimeter Solutions by 6.7% during the fourth quarter. Bleakley Financial Group LLC now owns 28,380 shares of the company's stock worth $363,000 after purchasing an additional 1,778 shares during the period. Sei Investments Co. raised its position in shares of Perimeter Solutions by 2.2% in the fourth quarter. Sei Investments Co. now owns 89,063 shares of the company's stock valued at $1,138,000 after purchasing an additional 1,884 shares during the period. Finally, Townsquare Capital LLC lifted its stake in shares of Perimeter Solutions by 11.8% during the 4th quarter. Townsquare Capital LLC now owns 21,370 shares of the company's stock worth $273,000 after buying an additional 2,258 shares during the last quarter. 89.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of Perimeter Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price target on the stock in a research note on Wednesday, March 26th.

Perimeter Solutions Stock Performance

NYSE PRM traded down $0.04 on Friday, reaching $10.21. The stock had a trading volume of 560,254 shares, compared to its average volume of 912,778. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 2.95. The company has a market cap of $1.52 billion, a P/E ratio of -72.92 and a beta of 1.88. The firm has a fifty day moving average of $9.81 and a two-hundred day moving average of $11.82. Perimeter Solutions, SA has a 1-year low of $6.94 and a 1-year high of $14.44.

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 analysts' consensus estimates of ($0.10) by $0.21. The business had revenue of $86.23 million for the quarter, compared to analyst estimates of $77.01 million. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. On average, equities research analysts anticipate that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insider Activity

In related news, Director Vivek Raj sold 250,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.17, for a total value of $2,292,500.00. Following the completion of the transaction, the director now owns 471,226 shares of the company's stock, valued at $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 is available through this link. 8.70% of the stock is owned by company insiders.

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.