Envestnet Asset Management Inc. Lowers Stake in Perimeter Solutions, SA (NYSE:PRM)

Envestnet Asset Management Inc. trimmed its holdings in Perimeter Solutions, SA (NYSE:PRM) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 188,925 shares of the company’s stock after selling 8,720 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Perimeter Solutions worth $2,414,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PRM. McAdam LLC purchased a new stake in Perimeter Solutions during the 4th quarter valued at approximately $131,000. Orion Portfolio Solutions LLC raised its stake in shares of Perimeter Solutions by 14.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 11,794 shares of the company’s stock worth $151,000 after purchasing an additional 1,519 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Perimeter Solutions during the fourth quarter worth $160,000. Lingohr Asset Management GmbH purchased a new position in Perimeter Solutions in the 4th quarter valued at $203,000. Finally, Fox Run Management L.L.C. acquired a new position in Perimeter Solutions in the 4th quarter valued at $227,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Wednesday, March 26th.

Perimeter Solutions Stock Performance

Shares of PRM stock opened at $10.21 on Friday. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $9.81 and a 200-day simple moving average of $11.82. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -72.92 and a beta of 1.88. Perimeter Solutions, SA has a 12-month low of $6.94 and a 12-month high of $14.44.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.21. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. The company had revenue of $86.23 million during the quarter, compared to the consensus estimate of $77.01 million. On average, equities analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insider Buying and Selling

In other Perimeter Solutions news, Director Vivek Raj sold 250,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $9.17, for a total transaction of $2,292,500.00. Following the sale, the director now directly owns 471,226 shares in the company, valued at approximately $4,321,142.42. The trade was a 34.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.70% of the stock is owned by insiders.

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.