Verition Fund Management LLC Invests $252,000 in Perimeter Solutions, SA (NYSE:PRM)

Verition Fund Management LLC bought a new stake in Perimeter Solutions, SA (NYSE:PRM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 18,701 shares of the company’s stock, valued at approximately $252,000.

Several other large investors have also recently added to or reduced their stakes in the business. Versor Investments LP acquired a new position in shares of Perimeter Solutions during the 2nd quarter valued at about $102,000. Landscape Capital Management L.L.C. purchased a new stake in Perimeter Solutions in the third quarter valued at approximately $148,000. Jag Capital Management LLC acquired a new position in Perimeter Solutions during the third quarter worth approximately $158,000. CWM LLC raised its stake in 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 period. Finally, Procyon Advisors LLC purchased a new stake in shares of Perimeter Solutions during the 3rd quarter valued at $169,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Perimeter Solutions Stock Down 0.5 %

Shares of NYSE:PRM opened at $12.82 on Friday. The stock has a 50-day simple moving average of $13.07 and a 200-day simple moving average of $10.93. The stock has a market capitalization of $1.87 billion, a P/E ratio of -11.35 and a beta of 1.93. Perimeter Solutions, SA has a 1 year low of $3.88 and a 1 year high of $14.44. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91.

Perimeter Solutions (NYSE:PRM) last released 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 business had revenue of $288.42 million for the quarter, compared to analysts’ expectations of $265.30 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Equities analysts forecast that Perimeter Solutions, SA will post -1.1 earnings per share for the current year.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, Director Tracy Britt Cool sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.81, for a total value of $640,500.00. Following the completion of the transaction, the director now owns 173,449 shares in the company, valued at $2,221,881.69. This represents a 22.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Haitham Khouri sold 80,156 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $12.16, for a total transaction of $974,696.96. Following the completion of the sale, the chief executive officer now directly owns 249,833 shares of the company’s stock, valued at $3,037,969.28. This trade represents a 24.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 210,156 shares of company stock worth $2,579,197. Corporate insiders own 8.70% of the company’s stock.

About Perimeter Solutions

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.