Pennant Select LLC Boosts Holdings in Perimeter Solutions, SA (NYSE:PRM)

Pennant Select LLC lifted its position in Perimeter Solutions, SA (NYSE:PRM) by 41.6% during the 3rd quarter, Holdings Channel reports. The firm owned 814,000 shares of the company’s stock after buying an additional 239,000 shares during the quarter. Perimeter Solutions makes up 7.7% of Pennant Select LLC’s investment portfolio, making the stock its 7th biggest holding. Pennant Select LLC’s holdings in Perimeter Solutions were worth $10,948,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. PEAK6 Investments LLC grew its holdings in shares of Perimeter Solutions by 243.0% in the 3rd quarter. PEAK6 Investments LLC now owns 51,537 shares of the company’s stock worth $693,000 after purchasing an additional 36,511 shares during the last quarter. Townsquare Capital LLC grew its holdings in shares of Perimeter Solutions by 59.3% in the 3rd quarter. Townsquare Capital LLC now owns 19,112 shares of the company’s stock worth $257,000 after purchasing an additional 7,118 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Perimeter Solutions in the 3rd quarter worth about $576,000. FMR LLC grew its holdings in shares of Perimeter Solutions by 2,993.1% in the 3rd quarter. FMR LLC now owns 307,426 shares of the company’s stock worth $4,135,000 after purchasing an additional 297,487 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Perimeter Solutions by 34.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 65,863 shares of the company’s stock worth $886,000 after purchasing an additional 17,009 shares during the last quarter. Institutional investors own 89.93% of the company’s stock.

Wall Street Analyst Weigh In

PRM has been the topic of several analyst reports. UBS Group upped their target price on shares of Perimeter Solutions from $8.75 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Morgan Stanley increased their price objective on shares of Perimeter Solutions from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, September 16th.

Perimeter Solutions Stock Performance

Shares of NYSE:PRM opened at $12.60 on Friday. Perimeter Solutions, SA has a 12 month low of $3.84 and a 12 month high of $14.44. The company’s 50-day moving average price is $13.11 and its two-hundred day moving average price is $10.50. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 2.95.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $288.42 million for the quarter, compared to the consensus estimate of $265.30 million. During the same period in the prior year, the company earned $0.31 EPS. On average, sell-side analysts predict that Perimeter Solutions, SA will post 0.62 EPS for the current year.

Insider Buying and Selling at Perimeter Solutions

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

Perimeter Solutions Company Profile

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.