Walleye Capital LLC Invests $843,000 in Perimeter Solutions, SA $PRM

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

Several other hedge funds also recently made changes to their positions in PRM. Abacus Wealth Partners LLC bought a new position in shares of Perimeter Solutions in the 4th quarter worth about $523,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Perimeter Solutions by 239.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company’s stock worth $1,524,000 after purchasing an additional 38,703 shares during the period. Tudor Investment Corp ET AL grew its holdings in Perimeter Solutions by 395.5% in the third quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company’s stock worth $3,244,000 after purchasing an additional 115,653 shares during the period. Argos Wealth Advisors LLC bought a new position in shares of Perimeter Solutions during the fourth quarter valued at approximately $961,000. Finally, Bessemer Group Inc. increased its stake in shares of Perimeter Solutions by 61.2% during the first quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock valued at $26,006,000 after purchasing an additional 404,417 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 18,461,121 shares of the company’s stock, valued at approximately $639,862,453.86. This represents a 15.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Emery sold 99,963 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $32.92, for a total value of $3,290,781.96. Following the sale, the insider owned 46,500 shares in the company, valued at approximately $1,530,780. This represents a 68.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,385,514 shares of company stock valued at $217,464,393 in the last quarter. Insiders own 13.10% of the company’s stock.

Analysts Set New Price Targets

PRM has been the topic of a number of analyst reports. JPMorgan Chase & Co. started coverage on Perimeter Solutions in a research report on Thursday, July 9th. They issued an “overweight” rating and a $50.00 price target on the stock. Wall Street Zen lowered Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. CJS Securities started coverage on Perimeter Solutions in a research note on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price objective for the company. Zacks Research downgraded Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, UBS Group increased their target price on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Perimeter Solutions Stock Down 0.8%

Shares of Perimeter Solutions stock opened at $33.77 on Friday. The company has a 50-day simple moving average of $33.79 and a two-hundred day simple moving average of $29.15. The stock has a market capitalization of $5.51 billion, a PE ratio of -25.20 and a beta of 1.90. Perimeter Solutions, SA has a 52-week low of $15.43 and a 52-week high of $38.17. 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 quarterly 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 firm 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%. On average, analysts anticipate that Perimeter Solutions, SA will post 1.66 EPS for the current fiscal year.

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.