Weitz Investment Management Inc. Sells 217,209 Shares of Perimeter Solutions, SA (NYSE:PRM)

Weitz Investment Management Inc. cut its holdings in shares of Perimeter Solutions, SA (NYSE:PRM) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,107,291 shares of the company’s stock after selling 217,209 shares during the quarter. Weitz Investment Management Inc. owned approximately 1.44% of Perimeter Solutions worth $26,931,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Entropy Technologies LP bought a new stake in Perimeter Solutions during the fourth quarter worth about $305,000. Barclays PLC increased its position in shares of Perimeter Solutions by 305.3% during the 3rd quarter. Barclays PLC now owns 206,967 shares of the company’s stock worth $2,784,000 after purchasing an additional 155,899 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Perimeter Solutions by 6.7% during the 4th quarter. Bleakley Financial Group LLC now owns 28,380 shares of the company’s stock worth $363,000 after purchasing an additional 1,778 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Perimeter Solutions during the 4th quarter worth approximately $301,000. Finally, FMR LLC boosted its holdings in shares of Perimeter Solutions by 2,993.1% in the 3rd quarter. FMR LLC now owns 307,426 shares of the company’s stock valued at $4,135,000 after buying an additional 297,487 shares during the last quarter. 89.93% of the stock is currently 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 company’s 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 transaction, the director now owns 471,226 shares in the company, valued at approximately $4,321,142.42. This represents a 34.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.70% of the company’s stock.

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 target price on the stock in a report on Wednesday, March 26th.

Perimeter Solutions Trading Up 1.3 %

Shares of NYSE:PRM opened at $10.20 on Wednesday. Perimeter Solutions, SA has a 52-week low of $6.84 and a 52-week high of $14.44. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. The company has a market capitalization of $1.53 billion, a P/E ratio of -72.87 and a beta of 1.93. The company has a 50-day simple moving average of $10.82 and a 200 day simple moving average of $12.22.

Perimeter Solutions (NYSE:PRM) last released 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 return on equity of 7.62% and a negative net margin of 1.05%. The company had revenue of $86.23 million during the quarter, compared to analysts’ expectations of $77.01 million. Sell-side analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current 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.