Longview Asset Management LLC bought a new position in PureCycle Technologies, Inc. (NYSE:PCT – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,716,394 shares of the company’s stock, valued at approximately $57,521,000. PureCycle Technologies comprises about 0.7% of Longview Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Longview Asset Management LLC owned about 5.90% of PureCycle Technologies as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in PCT. Abundance Wealth Counselors grew its position in shares of PureCycle Technologies by 21.0% during the 1st quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company’s stock valued at $42,185,000 after acquiring an additional 1,178,570 shares during the period. Van ECK Associates Corp purchased a new position in PureCycle Technologies during the second quarter valued at $3,121,000. SWS Partners grew its holdings in PureCycle Technologies by 40.9% during the fourth quarter. SWS Partners now owns 877,924 shares of the company’s stock valued at $3,556,000 after purchasing an additional 255,019 shares during the period. Sierra Summit Advisors LLC purchased a new stake in PureCycle Technologies in the fourth quarter worth about $964,000. Finally, Platform Technology Partners increased its position in PureCycle Technologies by 302.1% in the fourth quarter. Platform Technology Partners now owns 130,549 shares of the company’s stock worth $529,000 after buying an additional 98,084 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.
Insider Buying and Selling at PureCycle Technologies
In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of PureCycle Technologies stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.44% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Read Our Latest Stock Report on PCT
PureCycle Technologies Stock Performance
NYSE:PCT opened at $9.28 on Friday. The stock has a 50-day moving average price of $6.40 and a 200 day moving average price of $5.81. PureCycle Technologies, Inc. has a 12-month low of $2.38 and a 12-month high of $9.67. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06.
PureCycle Technologies (NYSE:PCT – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). On average, sell-side analysts expect that PureCycle Technologies, Inc. will post -0.85 earnings per share for the current fiscal year.
PureCycle Technologies Company Profile
PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.
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