Matrix Capital Management Company LP Reduces Stake in Perimeter Solutions, SA (NYSE:PRM)

Matrix Capital Management Company LP trimmed its position in Perimeter Solutions, SA (NYSE:PRM) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,725,000 shares of the company’s stock after selling 737,500 shares during the period. Perimeter Solutions accounts for 4.3% of Matrix Capital Management Company LP’s portfolio, making the stock its 3rd biggest position. Matrix Capital Management Company LP owned approximately 4.60% of Perimeter Solutions worth $90,451,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Senator Investment Group LP raised its position in shares of Perimeter Solutions by 0.5% during the 2nd quarter. Senator Investment Group LP now owns 2,125,000 shares of the company’s stock valued at $16,639,000 after purchasing an additional 10,700 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Perimeter Solutions by 59.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock worth $14,708,000 after purchasing an additional 698,622 shares during the last quarter. Pennant Select LLC boosted its stake in Perimeter Solutions by 41.6% during the third quarter. Pennant Select LLC now owns 814,000 shares of the company’s stock valued at $10,948,000 after buying an additional 239,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Perimeter Solutions by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 509,868 shares of the company’s stock valued at $3,992,000 after buying an additional 21,012 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Perimeter Solutions by 2,993.1% during the 3rd quarter. FMR LLC now owns 307,426 shares of the company’s stock worth $4,135,000 after acquiring an additional 297,487 shares in the last quarter. Institutional investors own 89.93% of the company’s stock.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, Director Tracy Britt Cool sold 50,000 shares of Perimeter Solutions stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $12.81, for a total transaction of $640,500.00. Following the transaction, the director now directly owns 173,449 shares of the company’s stock, valued at $2,221,881.69. The trade was a 22.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Haitham Khouri sold 80,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.05, for a total transaction of $964,000.00. Following the completion of the transaction, the chief executive officer now owns 429,989 shares in the company, valued at $5,181,367.45. The trade was a 15.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 210,156 shares of company stock valued at $2,579,197 over the last quarter. 8.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Perimeter Solutions from $8.75 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley lifted their price objective on shares of Perimeter Solutions from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, September 16th.

Perimeter Solutions Trading Up 2.8 %

NYSE PRM opened at $13.25 on Wednesday. The firm has a market cap of $1.94 billion, a PE ratio of -11.73 and a beta of 1.93. Perimeter Solutions, SA has a 52 week low of $3.84 and a 52 week high of $14.44. The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average price of $13.12 and a 200 day moving average price of $10.62.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.22). Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. The business had revenue of $288.42 million during the quarter, compared to analyst estimates of $265.30 million. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, sell-side analysts forecast that Perimeter Solutions, SA will post 0.62 EPS for the current fiscal year.

About Perimeter Solutions

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.