Windacre Partnership Llc Sells 437,500 Shares of Perimeter Solutions (NYSE:PRM) Stock

Perimeter Solutions, SA (NYSE:PRM) major shareholder Windacre Partnership Llc sold 437,500 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $33.00, for a total value of $14,437,500.00. Following the completion of the transaction, the insider owned 18,023,621 shares in the company, valued at $594,779,493. This trade represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Windacre Partnership Llc also recently made the following trade(s):

• On Tuesday, June 30th, Windacre Partnership Llc sold 1,875,000 shares of Perimeter Solutions stock. The stock was sold at an average price of $33.90, for a total transaction of $63,562,500.00.
• On Friday, June 26th, Windacre Partnership Llc sold 3,393,479 shares of Perimeter Solutions stock. The stock was sold at an average price of $34.66, for a total value of $117,617,982.14.

Perimeter Solutions Price Performance

Shares of NYSE PRM traded up $3.03 during trading on Tuesday, hitting $35.76. 2,248,133 shares of the company were exchanged, compared to its average volume of 1,947,922. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. Perimeter Solutions, SA has a 1 year low of $13.78 and a 1 year high of $38.17. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -26.68 and a beta of 1.92. The firm’s fifty day moving average price is $32.69 and its 200 day moving average price is $28.38.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $125.07 million during the quarter, compared to analysts’ expectations of $121.80 million. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%. On average, sell-side analysts expect that Perimeter Solutions, SA will post 1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRM has been the subject of several research reports. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. UBS Group increased their target price on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Morgan Stanley raised their price objective on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Perimeter Solutions has a consensus rating of “Buy” and a consensus price target of $40.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Arax Advisory Partners lifted its holdings in Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after acquiring an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Perimeter Solutions by 51.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after acquiring an additional 389 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of Perimeter Solutions during the second quarter valued at approximately $42,000. Comerica Bank grew its holdings in shares of Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Perimeter Solutions by 55.7% during the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock worth $69,000 after purchasing an additional 899 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

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.