Insider Selling: Perimeter Solutions (NYSE:PRM) Director Sells 100,000 Shares of Stock

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 100,000 shares of Perimeter Solutions stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $24.06, for a total transaction of $2,406,000.00. Following the completion of the sale, the director owned 8,960,656 shares of the company’s stock, valued at $215,593,383.36. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Perimeter Solutions Stock Performance

PRM stock traded down $0.84 during mid-day trading on Friday, reaching $23.49. 1,152,961 shares of the stock traded hands, compared to its average volume of 970,795. The company has a quick ratio of 1.72, a current ratio of 3.22 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average of $26.97 and a two-hundred day moving average of $24.98. The firm has a market capitalization of $3.51 billion, a PE ratio of -16.54 and a beta of 1.98. Perimeter Solutions, SA has a 52 week low of $8.76 and a 52 week high of $29.88.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, February 26th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. Perimeter Solutions had a negative net margin of 31.61% and a positive return on equity of 17.82%. The firm had revenue of $102.75 million during the quarter, compared to analysts’ expectations of $94.05 million. As a group, equities analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PRM. Invesco Ltd. boosted its holdings in shares of Perimeter Solutions by 157.3% in the 4th quarter. Invesco Ltd. now owns 1,294,686 shares of the company’s stock valued at $35,643,000 after buying an additional 791,558 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in Perimeter Solutions during the fourth quarter worth approximately $139,000. Mackenzie Financial Corp bought a new stake in Perimeter Solutions in the 4th quarter valued at $242,000. Empowered Funds LLC bought a new stake in shares of Perimeter Solutions in the fourth quarter valued at about $417,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Perimeter Solutions during the 4th quarter worth approximately $6,681,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

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.