Weitz Investment Management Inc. Has $26.93 Million Stock Position in Perimeter Solutions, SA (NYSE:PRM)

Weitz Investment Management Inc. cut its holdings in Perimeter Solutions, SA (NYSE:PRM) by 9.3% during the 4th quarter, HoldingsChannel reports. The fund owned 2,107,291 shares of the company’s stock after selling 217,209 shares during the quarter. Weitz Investment Management Inc.’s holdings in Perimeter Solutions were worth $26,931,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in Perimeter Solutions in the 3rd quarter valued at about $52,000. McAdam LLC bought a new stake in shares of Perimeter Solutions in the fourth quarter valued at approximately $131,000. Orion Portfolio Solutions LLC acquired a new stake in Perimeter Solutions during the third quarter worth approximately $138,000. Cibc World Markets Corp bought a new position in Perimeter Solutions during the 4th quarter worth $160,000. Finally, Lingohr Asset Management GmbH bought a new position in Perimeter Solutions during the 4th quarter worth $203,000. 89.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group raised Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, March 26th.

Insider Activity

In other news, Director Vivek Raj sold 250,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $9.17, for a total value of $2,292,500.00. Following the completion of the transaction, the director now owns 471,226 shares of the company’s stock, valued at approximately $4,321,142.42. This represents a 34.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company’s stock.

Perimeter Solutions Price Performance

PRM stock opened at $10.20 on Wednesday. The company’s 50-day moving average price is $10.82 and its two-hundred day moving average price is $12.22. The firm has a market cap of $1.53 billion, a P/E ratio of -72.87 and a beta of 1.93. The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67. Perimeter Solutions, SA has a 12 month low of $6.84 and a 12 month high of $14.44.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.21. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. The business had revenue of $86.23 million for the quarter, compared to analysts’ expectations of $77.01 million. On average, analysts anticipate that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Perimeter Solutions Company Profile

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.