Vivek Raj Sells 25,000 Shares of Perimeter Solutions (NYSE:PRM) Stock

Key Points

• Director Vivek Raj sold 25,000 shares of Perimeter Solutions at an average price of $22.45, totaling $561,250, reducing his ownership by 17.04% to 121,701 shares.
• The company's stock increased by 0.6% to $22.39, with a trading volume of 888,030 shares, compared to its 1.3 million average volume.
• Perimeter Solutions reported earnings of $0.39 EPS, surpassing estimates of $0.28, alongside a revenue of $162.64 million for the last quarter.

Perimeter Solutions, SA (NYSE:PRM - Get Free Report) Director Vivek Raj sold 25,000 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $22.45, for a total transaction of $561,250.00. Following the completion of the transaction, the director owned 121,701 shares of the company's stock, valued at $2,732,187.45. This trade represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Perimeter Solutions Stock Up 0.6%

NYSE:PRM traded up $0.13 during midday trading on Monday, hitting $22.39. The company had a trading volume of 888,030 shares, compared to its average volume of 1,341,242. The stock's fifty day moving average price is $18.55 and its 200-day moving average price is $13.76. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57. Perimeter Solutions, SA has a 52-week low of $8.76 and a 52-week high of $23.79.

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

Institutional Trading of Perimeter Solutions

Several institutional investors and hedge funds have recently bought and sold shares of PRM. Comerica Bank purchased a new stake in Perimeter Solutions in the fourth quarter worth about $38,000. EverSource Wealth Advisors LLC purchased a new stake in Perimeter Solutions in the second quarter worth about $42,000. Cullen Frost Bankers Inc. increased its stake in shares of Perimeter Solutions by 161.2% during the second quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company's stock valued at $43,000 after purchasing an additional 1,928 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Perimeter Solutions by 25.6% during the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after purchasing an additional 1,899 shares in the last quarter. Finally, Xponance Inc. bought a new position in shares of Perimeter Solutions during the first quarter valued at approximately $101,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRM. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. UBS Group upped their price target 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. Finally, Morgan Stanley upped their price target 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. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $22.50.

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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