Walleye Capital LLC Makes New $843,000 Investment in Perimeter Solutions, SA $PRM

Walleye Capital LLC purchased a new stake in shares of Perimeter Solutions, SA (NYSE:PRM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,530 shares of the company’s stock, valued at approximately $843,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRM. Arax Advisory Partners lifted its stake in shares of Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after acquiring an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after purchasing an additional 389 shares during the period. EverSource Wealth Advisors LLC bought a new stake in Perimeter Solutions in the second quarter valued at approximately $42,000. Comerica Bank lifted its position in Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Perimeter Solutions by 55.7% during the fourth quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock valued at $69,000 after purchasing an additional 899 shares during the period. 89.93% of the stock is owned by institutional investors.

Perimeter Solutions Trading Down 0.8%

NYSE PRM opened at $33.77 on Friday. The stock has a market cap of $5.51 billion, a P/E ratio of -25.20 and a beta of 1.90. Perimeter Solutions, SA has a fifty-two week low of $15.43 and a fifty-two week high of $38.17. The stock has a 50 day simple moving average of $33.79 and a two-hundred day simple moving average of $29.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $125.07 million for the quarter, compared to analysts’ expectations of $121.80 million. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%. On average, analysts forecast that Perimeter Solutions, SA will post 1.66 earnings per share for the current year.

Insider Activity at Perimeter Solutions

In other news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $33.90, for a total value of $63,562,500.00. Following the completion of the sale, the insider directly owned 16,148,621 shares of the company’s stock, valued at approximately $547,438,251.90. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Emery sold 53,537 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $33.45, for a total transaction of $1,790,812.65. Following the completion of the sale, the insider directly owned 53,537 shares of the company’s stock, valued at approximately $1,790,812.65. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 6,385,514 shares of company stock worth $217,464,393. 13.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PRM. Zacks Research downgraded shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. CJS Securities began coverage on shares of Perimeter Solutions in a research report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Perimeter Solutions in a report on Thursday, July 9th. They issued an “overweight” rating and a $50.00 price target on the stock. Weiss Ratings cut shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 14th. Finally, Morgan Stanley upped their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Perimeter Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.