Quantbot Technologies LP Increases Stake in Perimeter Solutions, SA $PRM

Quantbot Technologies LP lifted its holdings in shares of Perimeter Solutions, SA (NYSE:PRM) by 1,645.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,876 shares of the company’s stock after purchasing an additional 52,675 shares during the period. Quantbot Technologies LP’s holdings in Perimeter Solutions were worth $1,251,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of Perimeter Solutions during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new stake in Perimeter Solutions during the 2nd quarter valued at about $42,000. Comerica Bank grew its position in Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after acquiring an additional 1,324 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new position in Perimeter Solutions in the 3rd quarter worth approximately $45,000. Finally, TD Private Client Wealth LLC lifted its position in Perimeter Solutions by 1,450.0% in the third quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company’s stock valued at $47,000 after purchasing an additional 1,972 shares during the last quarter. 89.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PRM shares. Morgan Stanley set a $35.00 target price on shares of Perimeter Solutions in a report on Monday, December 15th. UBS Group dropped their price target on shares of Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday. Zacks Research lowered shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings downgraded shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.50.

Perimeter Solutions Stock Performance

Shares of PRM stock opened at $24.34 on Friday. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -17.14 and a beta of 1.98. The stock has a fifty day moving average of $26.97 and a 200 day moving average of $24.98. Perimeter Solutions, SA has a 52 week low of $8.76 and a 52 week high of $29.88. The company has a quick ratio of 1.72, a current ratio of 3.22 and a debt-to-equity ratio of 0.60.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. The business had revenue of $102.75 million during the quarter, compared to analyst estimates of $94.05 million. Perimeter Solutions had a negative net margin of 31.61% and a positive return on equity of 17.82%. As a group, research analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, CFO Kyle Sable sold 100,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $28.47, for a total value of $2,847,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is currently owned by insiders.

Perimeter Solutions Company Profile

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.