Meritage Group LP Trims Stock Holdings in Perimeter Solutions, SA (NYSE:PRM)

Meritage Group LP cut its holdings in shares of Perimeter Solutions, SA (NYSE:PRM) by 51.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,916,272 shares of the company’s stock after selling 4,083,728 shares during the quarter. Perimeter Solutions makes up approximately 1.2% of Meritage Group LP’s holdings, making the stock its 19th largest holding. Meritage Group LP owned about 2.68% of Perimeter Solutions worth $50,050,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. McAdam LLC bought a new position in Perimeter Solutions during the 4th quarter worth approximately $131,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Perimeter Solutions during the 3rd quarter valued at approximately $138,000. Cibc World Markets Corp bought a new position in Perimeter Solutions during the fourth quarter worth $160,000. Summit Investment Advisors Inc. boosted its holdings in Perimeter Solutions by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,000 shares of the company’s stock worth $179,000 after purchasing an additional 889 shares during the period. Finally, Lingohr Asset Management GmbH bought a new stake in Perimeter Solutions during the fourth quarter valued at $203,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Perimeter Solutions

In related news, Director Vivek Raj sold 250,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was 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 directly owns 471,226 shares of the company’s stock, valued at $4,321,142.42. This represents a 34.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Perimeter Solutions Trading Down 1.0 %

Shares of NYSE PRM opened at $9.81 on Friday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -70.04 and a beta of 1.88. The stock’s 50 day simple moving average is $9.99 and its 200 day simple moving average is $11.91. The company has a current ratio of 3.91, a quick ratio of 2.95 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 results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $86.23 million during the quarter, compared to the consensus estimate of $77.01 million. Equities research analysts expect that Perimeter Solutions, SA will post 0.71 EPS for the current 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.