Insider Selling: Perimeter Solutions (NYSE:PRM) Major Shareholder Sells $117,617,982.14 in Stock

Perimeter Solutions, SA (NYSE:PRM) major shareholder Windacre Partnership Llc sold 3,393,479 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $34.66, for a total value of $117,617,982.14. Following the sale, the insider directly owned 18,461,121 shares of the company’s stock, valued at approximately $639,862,453.86. This trade represents a 15.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Windacre Partnership Llc also recently made the following trade(s):

• On Tuesday, June 30th, Windacre Partnership Llc sold 1,875,000 shares of Perimeter Solutions stock. The shares were sold at an average price of $33.90, for a total value of $63,562,500.00.
• On Monday, June 29th, Windacre Partnership Llc sold 437,500 shares of Perimeter Solutions stock. The stock was sold at an average price of $33.00, for a total value of $14,437,500.00.

Perimeter Solutions Stock Down 2.3%

Shares of NYSE:PRM opened at $33.86 on Friday. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of -25.27 and a beta of 1.89. Perimeter Solutions, SA has a 12-month low of $15.00 and a 12-month high of $38.17. The business has a 50-day moving average price of $32.89 and a 200 day moving average price of $28.46. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $125.07 million for the quarter, compared to analysts’ expectations of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. Sell-side analysts expect that Perimeter Solutions, SA will post 1.78 EPS for the current year.

Institutional Trading of Perimeter Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Abacus Wealth Partners LLC acquired a new position in shares of Perimeter Solutions in the fourth quarter valued at approximately $523,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Perimeter Solutions by 239.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company’s stock worth $1,524,000 after buying an additional 38,703 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in Perimeter Solutions by 395.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company’s stock worth $3,244,000 after buying an additional 115,653 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Perimeter Solutions by 1,645.6% during the 3rd quarter. Quantbot Technologies LP now owns 55,876 shares of the company’s stock worth $1,251,000 after buying an additional 52,675 shares in the last quarter. Finally, Argos Wealth Advisors LLC purchased a new position in Perimeter Solutions in the 4th quarter valued at approximately $961,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PRM shares. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings upgraded shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. UBS Group boosted their target price on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley upped their price target on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Perimeter Solutions has an average rating of “Buy” and a consensus target price of $40.67.

About Perimeter Solutions

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.