Verition Fund Management LLC Purchases New Holdings in Perimeter Solutions, SA (NYSE:PRM)

Verition Fund Management LLC acquired a new position in shares of Perimeter Solutions, SA (NYSE:PRM) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 18,701 shares of the company’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC raised its stake in shares of Perimeter Solutions by 22.8% during the third quarter. CWM LLC now owns 12,251 shares of the company’s stock worth $165,000 after purchasing an additional 2,276 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Perimeter Solutions by 14.8% in the third quarter. Bleakley Financial Group LLC now owns 26,602 shares of the company’s stock valued at $358,000 after purchasing an additional 3,421 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Perimeter Solutions by 2.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 139,335 shares of the company’s stock valued at $1,874,000 after purchasing an additional 3,544 shares in the last quarter. Natixis Advisors LLC increased its position in Perimeter Solutions by 5.9% during the 3rd quarter. Natixis Advisors LLC now owns 64,923 shares of the company’s stock worth $873,000 after purchasing an additional 3,595 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Perimeter Solutions by 13.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 50,646 shares of the company’s stock worth $397,000 after buying an additional 5,933 shares in the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley increased their price objective on Perimeter Solutions from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th.

Insiders Place Their Bets

In related news, Director Tracy Britt Cool sold 50,000 shares of Perimeter Solutions stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.81, for a total transaction of $640,500.00. Following the completion of the sale, the director now owns 173,449 shares in the company, valued at approximately $2,221,881.69. This trade represents a 22.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Haitham Khouri sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.05, for a total transaction of $964,000.00. Following the completion of the transaction, the chief executive officer now owns 429,989 shares in the company, valued at approximately $5,181,367.45. This trade represents a 15.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 210,156 shares of company stock worth $2,579,197. Insiders own 8.70% of the company’s stock.

Perimeter Solutions Trading Down 0.5 %

Shares of PRM opened at $12.82 on Friday. Perimeter Solutions, SA has a twelve month low of $3.88 and a twelve month high of $14.44. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.87 billion, a P/E ratio of -11.35 and a beta of 1.93. The firm’s 50-day moving average is $13.07 and its two-hundred day moving average is $10.93.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($1.22). Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. The firm had revenue of $288.42 million for the quarter, compared to analyst estimates of $265.30 million. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, research analysts predict that Perimeter Solutions, SA will post -1.1 earnings per share for the current fiscal year.

Perimeter Solutions 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.