Insider Selling: Perimeter Solutions (NYSE:PRM) Major Shareholder Sells $63,562,500.00 in Stock

Perimeter Solutions, SA (NYSE:PRM) major shareholder Windacre Partnership Llc sold 1,875,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider owned 16,148,621 shares in the company, valued at $547,438,251.90. The trade was a 10.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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.
• On Friday, June 26th, Windacre Partnership Llc sold 3,393,479 shares of Perimeter Solutions stock. The stock was sold at an average price of $34.66, for a total value of $117,617,982.14.

Perimeter Solutions Price Performance

Shares of NYSE PRM opened at $33.86 on Friday. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. 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 twelve month low of $15.00 and a twelve month high of $38.17. The business has a 50 day simple moving average of $32.89 and a 200-day simple moving average of $28.46.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Perimeter Solutions, SA will post 1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PRM. Morgan Stanley raised their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Wall Street Zen raised Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. CJS Securities initiated coverage on 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. Finally, Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. One equities research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $40.67.

Institutional Trading of Perimeter Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of Perimeter Solutions by 4.8% in the first quarter. Bank of America Corp DE now owns 1,738,095 shares of the company’s stock valued at $42,444,000 after acquiring an additional 79,083 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Perimeter Solutions by 8.6% during the first quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company’s stock valued at $97,863,000 after acquiring an additional 315,763 shares during the period. Amundi bought a new stake in Perimeter Solutions during the first quarter worth approximately $482,000. EverSource Wealth Advisors LLC raised its holdings in Perimeter Solutions by 20.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company’s stock worth $56,000 after purchasing an additional 383 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in Perimeter Solutions by 24.2% in the first quarter. California State Teachers Retirement System now owns 164,346 shares of the company’s stock worth $4,013,000 after purchasing an additional 32,073 shares during the period. 89.93% of the stock is currently owned by institutional investors.

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.