Traders Buy Large Volume of Call Options on Perimeter Solutions (NYSE:PRM)

Perimeter Solutions, SA (NYSE:PRM) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 2,652 call options on the company. This represents an increase of 261% compared to the average daily volume of 734 call options.

Perimeter Solutions Trading Down 1.3%

Perimeter Solutions stock traded down $0.36 during mid-day trading on Tuesday, hitting $27.81. 206,375 shares of the stock were exchanged, compared to its average volume of 1,160,994. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 66.20 and a beta of 1.96. Perimeter Solutions has a 12 month low of $8.76 and a 12 month high of $29.78. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $24.97 and its two-hundred day simple moving average is $20.27.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.14. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. The company had revenue of $315.44 million during the quarter, compared to analysts’ expectations of $238.27 million. Analysts forecast that Perimeter Solutions will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Wednesday, October 8th. Morgan Stanley set a $35.00 price objective on Perimeter Solutions in a report on Monday. UBS Group upped their target price on Perimeter Solutions from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $30.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Alpha Wave Global LP bought a new stake in shares of Perimeter Solutions during the 2nd quarter valued at about $11,155,000. Alyeska Investment Group L.P. acquired a new position in Perimeter Solutions in the first quarter valued at approximately $8,056,000. Raymond James Financial Inc. boosted its holdings in shares of Perimeter Solutions by 364.0% during the 1st quarter. Raymond James Financial Inc. now owns 926,084 shares of the company’s stock worth $9,326,000 after buying an additional 726,484 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Perimeter Solutions by 50.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,132,167 shares of the company’s stock worth $47,739,000 after buying an additional 714,816 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Perimeter Solutions in the 3rd quarter valued at $14,612,000. 89.93% of the stock is owned by institutional investors.

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.