Insider Selling: Perimeter Solutions (NYSE:PRM) Director Sells $2,921,250.00 in Stock

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 125,000 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $23.37, for a total transaction of $2,921,250.00. Following the transaction, the director directly owned 8,735,656 shares in the company, valued at approximately $204,152,280.72. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Perimeter Solutions Stock Down 1.1%

Shares of NYSE PRM opened at $22.79 on Friday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -16.05 and a beta of 1.98. The company’s 50-day simple moving average is $26.44 and its 200-day simple moving average is $25.16. The company has a quick ratio of 2.42, a current ratio of 3.22 and a debt-to-equity ratio of 0.60. 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 quarterly earnings results on Thursday, February 26th. The company reported $0.13 earnings per share for the quarter, topping 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 the consensus estimate of $94.05 million. Equities analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings downgraded Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, March 2nd. Morgan Stanley set a $35.00 price target on Perimeter Solutions in a research report on Monday, December 15th. UBS Group reduced their price objective on Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. Finally, Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Perimeter Solutions has an average rating of “Hold” and a consensus target price of $30.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp acquired a new position in shares of Perimeter Solutions during the 3rd quarter worth approximately $27,000. Arax Advisory Partners increased its holdings in shares of Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after purchasing an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after buying an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in Perimeter Solutions during the second quarter worth approximately $42,000. Finally, Comerica Bank boosted its stake in Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after buying an additional 1,324 shares during the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

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.