Perimeter Solutions (NYSE:PRM) Trading Up 7.5% on Insider Buying Activity

Perimeter Solutions, SA (NYSE:PRM - Get Free Report) shares were up 7.5% during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $14.98 and last traded at $15.13. Approximately 147,833 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 979,298 shares. The stock had previously closed at $14.07.

Specifically, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was bought at an average cost of $13.98 per share, for a total transaction of $3,559,308.00. Following the purchase, the insider directly owned 21,854,600 shares in the company, valued at $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRM. UBS Group upgraded Perimeter Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a research note on Wednesday, March 26th. Morgan Stanley dropped their price objective on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

Perimeter Solutions Trading Up 8.5%

The business has a 50 day moving average price of $12.15 and a 200 day moving average price of $11.55. The company has a quick ratio of 3.56, a current ratio of 5.23 and a debt-to-equity ratio of 0.55.

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

Institutional Trading of Perimeter Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRM. Comerica Bank purchased a new stake in shares of Perimeter Solutions during the 4th quarter worth about $38,000. Harbor Investment Advisory LLC raised its holdings in Perimeter Solutions by 25.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock worth $94,000 after purchasing an additional 1,899 shares during the period. Xponance Inc. purchased a new position in Perimeter Solutions during the first quarter worth approximately $101,000. Gilbert & Cook Inc. acquired a new stake in Perimeter Solutions in the first quarter valued at approximately $104,000. Finally, Quantinno Capital Management LP acquired a new stake in Perimeter Solutions in the fourth quarter valued at approximately $136,000. Institutional investors and hedge funds own 89.93% of the company's stock.

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.