Y Intercept Hong Kong Ltd Has $1.06 Million Position in Perimeter Solutions, SA $PRM

Y Intercept Hong Kong Ltd grew its stake in Perimeter Solutions, SA (NYSE:PRM) by 501.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,288 shares of the company’s stock after purchasing an additional 63,599 shares during the period. Y Intercept Hong Kong Ltd owned about 0.05% of Perimeter Solutions worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PRM. New York State Teachers Retirement System acquired a new stake in shares of Perimeter Solutions in the 1st quarter valued at approximately $123,000. Teacher Retirement System of Texas boosted its stake in shares of Perimeter Solutions by 21.0% in the 1st quarter. Teacher Retirement System of Texas now owns 249,091 shares of the company’s stock valued at $2,508,000 after purchasing an additional 43,247 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Perimeter Solutions by 12.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 212,266 shares of the company’s stock valued at $2,138,000 after purchasing an additional 23,341 shares in the last quarter. Xponance Inc. bought a new position in Perimeter Solutions in the 1st quarter valued at approximately $101,000. Finally, Arizona State Retirement System bought a new position in Perimeter Solutions in the 1st quarter valued at approximately $401,000. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Perimeter Solutions in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Morgan Stanley reiterated an “overweight” rating and issued a $27.00 price objective on shares of Perimeter Solutions in a report on Friday, October 17th. Finally, UBS Group raised their price objective on shares of Perimeter Solutions from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $26.00.

Perimeter Solutions Stock Up 0.3%

Perimeter Solutions stock opened at $23.59 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. Perimeter Solutions, SA has a 52-week low of $8.76 and a 52-week high of $27.74. The firm has a 50 day moving average price of $22.13 and a two-hundred day moving average price of $16.95. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 56.16 and a beta of 1.98.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. The firm had revenue of $315.44 million during the quarter, compared to analyst estimates of $238.27 million. Equities analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey Emery sold 300,000 shares of Perimeter Solutions stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $22.28, for a total value of $6,684,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle Sable sold 40,000 shares of Perimeter Solutions stock in a transaction on Friday, September 5th. The shares were sold at an average price of $22.05, for a total transaction of $882,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 365,000 shares of company stock worth $8,127,250. 10.00% of the stock is currently 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.