Perimeter Solutions (NYSE:PRM) Trading Down 5% Following Insider Selling

Key Points

• Perimeter Solutions' stock price dropped 5% after insider selling from Director Vivek Raj, who sold 25,000 shares on September 11 at an average price of $22.45, decreasing his ownership by 17.04%.
• Analysts have mixed ratings on the stock, with one firm lowering its rating from "buy" to "hold" and others adjusting their target prices, indicating varied expectations for the company's future performance.
• In the latest earnings report, Perimeter Solutions exceeded expectations with $0.39 earnings per share and $162.64 million in revenue, compared to analyst estimates of $0.28 EPS and $108.91 million revenue.

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s share price fell 5% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $20.89 and last traded at $21.30. 123,350 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,174,720 shares. The stock had previously closed at $22.42.

Specifically, Director Vivek Raj sold 25,000 shares of Perimeter Solutions stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $22.45, for a total transaction of $561,250.00. Following the completion of the sale, the director owned 121,701 shares of the company's stock, valued at approximately $2,732,187.45. The trade was a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRM shares. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Morgan Stanley boosted their target price on shares of Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Finally, UBS Group boosted their target price on shares of Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $22.50.

Perimeter Solutions Stock Down 5.9%

The firm has a market cap of $3.09 billion, a PE ratio of 49.25 and a beta of 2.00. The business's 50 day moving average price is $18.70 and its 200 day moving average price is $13.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.04 and a quick ratio of 2.60.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.11. The business had revenue of $162.64 million for the quarter, compared to analysts' expectations of $108.91 million. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%. On average, equities research analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Institutional Trading of Perimeter Solutions

Several hedge funds have recently made changes to their positions in PRM. Pacer Advisors Inc. purchased a new stake in shares of Perimeter Solutions in the 1st quarter valued at approximately $13,743,000. Alpha Wave Global LP purchased a new position in shares of Perimeter Solutions during the 2nd quarter worth approximately $11,155,000. Alyeska Investment Group L.P. purchased a new position in shares of Perimeter Solutions during the 1st quarter worth approximately $8,056,000. Raymond James Financial Inc. boosted its position in shares of Perimeter Solutions by 364.0% during the 1st quarter. Raymond James Financial Inc. now owns 926,084 shares of the company's stock worth $9,326,000 after purchasing an additional 726,484 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Perimeter Solutions by 35.8% during the 2nd quarter. Bank of America Corp DE now owns 2,274,018 shares of the company's stock worth $31,654,000 after purchasing an additional 599,972 shares during the period. Hedge funds and other institutional investors 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.

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