Alpha Wave Global LP Purchases Shares of 801,335 Perimeter Solutions, SA $PRM

Alpha Wave Global LP acquired a new stake in Perimeter Solutions, SA (NYSE:PRM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 801,335 shares of the company’s stock, valued at approximately $11,155,000. Perimeter Solutions accounts for about 1.2% of Alpha Wave Global LP’s holdings, making the stock its 10th biggest position. Alpha Wave Global LP owned about 0.55% of Perimeter Solutions at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in shares of Perimeter Solutions in the 2nd quarter valued at $42,000. Cullen Frost Bankers Inc. raised its holdings in Perimeter Solutions by 161.2% during the second quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock valued at $43,000 after buying an additional 1,928 shares in the last quarter. Comerica Bank increased its holdings in shares of Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after acquiring an additional 1,324 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Perimeter Solutions by 65.1% in the 2nd quarter. AlphaQuest LLC now owns 8,235 shares of the company’s stock valued at $115,000 after acquiring an additional 3,246 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Perimeter Solutions in the 1st quarter worth approximately $161,000. Institutional investors own 89.93% of the company’s stock.

Insider Buying and Selling

In other news, Director Vivek Raj sold 25,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $22.45, for a total value of $561,250.00. Following the sale, the director owned 121,701 shares in the company, valued at approximately $2,732,187.45. The trade was a 17.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PRM. Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Morgan Stanley reiterated an “overweight” rating and set a $27.00 price target on shares of Perimeter Solutions in a report on Friday, October 17th. UBS Group boosted their target price on shares of Perimeter Solutions from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $26.00.

Perimeter Solutions Stock Performance

NYSE:PRM opened at $28.05 on Friday. Perimeter Solutions, SA has a 12-month low of $8.76 and a 12-month high of $28.38. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.15 billion, a PE ratio of 66.78 and a beta of 1.96. The firm has a 50-day moving average price of $24.06 and a 200 day moving average price of $19.34.

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

Perimeter Solutions 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.