Schroder Investment Management Group Cuts Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Schroder Investment Management Group lowered its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 24.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,824 shares of the company’s stock after selling 28,663 shares during the quarter. Schroder Investment Management Group owned approximately 0.05% of PureCycle Technologies worth $910,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PCT. Charles Schwab Investment Management Inc. increased its position in PureCycle Technologies by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,100,281 shares of the company’s stock worth $10,453,000 after buying an additional 19,989 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in PureCycle Technologies by 32.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 64,196 shares of the company’s stock valued at $610,000 after acquiring an additional 15,837 shares during the period. FMR LLC lifted its holdings in PureCycle Technologies by 0.5% during the third quarter. FMR LLC now owns 230,755 shares of the company’s stock valued at $2,192,000 after purchasing an additional 1,083 shares during the last quarter. IHT Wealth Management LLC bought a new position in PureCycle Technologies during the third quarter worth about $485,000. Finally, State Street Corp increased its stake in shares of PureCycle Technologies by 0.8% in the third quarter. State Street Corp now owns 2,809,178 shares of the company’s stock worth $26,687,000 after purchasing an additional 21,706 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

Shares of PCT stock opened at $6.19 on Tuesday. The firm’s 50 day moving average is $8.48 and its 200 day moving average is $10.18. The stock has a market capitalization of $1.11 billion, a P/E ratio of -4.13 and a beta of 1.68. PureCycle Technologies, Inc. has a 12 month low of $4.50 and a 12 month high of $15.58. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36.

PureCycle Technologies (NASDAQ:PCT) last posted its 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). On average, sell-side analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was purchased at an average cost of $8.06 per share, with a total value of $4,996,595.50. Following the acquisition, the insider now directly owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.44% of the stock is owned by corporate insiders.

PureCycle Technologies Company 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.