T. Rowe Price Investment Management Inc. Acquires New Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

T. Rowe Price Investment Management Inc. acquired a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,352,087 shares of the company's stock, valued at approximately $13,859,000. T. Rowe Price Investment Management Inc. owned 0.78% of PureCycle Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in PureCycle Technologies by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,035 shares of the company's stock valued at $1,108,000 after buying an additional 8,959 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of PureCycle Technologies by 86.0% in the 4th quarter. IHT Wealth Management LLC now owns 94,968 shares of the company's stock valued at $973,000 after acquiring an additional 43,918 shares during the period. Stifel Financial Corp lifted its holdings in shares of PureCycle Technologies by 55.9% during the 4th quarter. Stifel Financial Corp now owns 523,440 shares of the company's stock valued at $5,365,000 after acquiring an additional 187,668 shares in the last quarter. MetLife Investment Management LLC boosted its position in PureCycle Technologies by 7.5% during the 4th quarter. MetLife Investment Management LLC now owns 75,958 shares of the company's stock worth $779,000 after purchasing an additional 5,281 shares during the period. Finally, Marshall Wace LLP acquired a new stake in PureCycle Technologies in the 4th quarter valued at $598,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Sylebra Capital Llc bought 619,925 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were acquired at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the purchase, the insider now owns 34,077,574 shares in the company, valued at $274,665,246.44. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 21.67% of the stock is owned by company insiders.

PureCycle Technologies Stock Down 0.7 %

Shares of PCT traded down $0.05 during midday trading on Thursday, reaching $6.66. 1,397,718 shares of the company were exchanged, compared to its average volume of 2,349,595. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. The stock has a 50-day moving average price of $7.35 and a 200-day moving average price of $9.76. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -4.44 and a beta of 1.68.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.32). Research analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

PureCycle Technologies Profile

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.