Insider Selling: Perimeter Solutions (NYSE:PRM) CFO Sells 150,000 Shares of Stock

Perimeter Solutions, SA (NYSE:PRM) CFO Kyle Sable sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $31.52, for a total value of $4,728,000.00. Following the sale, the chief financial officer owned 20,000 shares in the company, valued at approximately $630,400. This trade represents a 88.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Kyle Sable also recently made the following trade(s):

• On Monday, May 11th, Kyle Sable sold 20,460 shares of Perimeter Solutions stock. The stock was sold at an average price of $32.89, for a total value of $672,929.40.
• On Tuesday, May 12th, Kyle Sable sold 30,000 shares of Perimeter Solutions stock. The shares were sold at an average price of $31.75, for a total value of $952,500.00.

Perimeter Solutions Trading Down 0.2%

PRM traded down $0.07 during trading on Tuesday, reaching $32.09. The company had a trading volume of 1,431,547 shares, compared to its average volume of 1,099,286. The stock has a market cap of $5.23 billion, a P/E ratio of -23.95 and a beta of 1.93. The business has a 50 day simple moving average of $25.65 and a 200-day simple moving average of $26.35. Perimeter Solutions, SA has a 52 week low of $11.55 and a 52 week high of $34.29. The company has a quick ratio of 2.42, a current ratio of 3.22 and a debt-to-equity ratio of 0.60.

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 business had revenue of $125.07 million during the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.55%. On average, equities analysts anticipate that Perimeter Solutions, SA will post 1.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PRM shares. UBS Group lifted their target price on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley lifted their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings raised shares of Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Perimeter Solutions has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp purchased a new position in Perimeter Solutions during the 3rd quarter valued at about $27,000. Arax Advisory Partners boosted its stake in shares of Perimeter Solutions by 122.8% during the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after purchasing an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after purchasing an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in Perimeter Solutions during the second quarter valued at approximately $42,000. Finally, Comerica Bank lifted its holdings in Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after buying an additional 1,324 shares during the period. 89.93% of the stock is currently owned by institutional investors.

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.