Schroder Investment Management Group Cuts Stock Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

Schroder Investment Management Group reduced its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 24.4% during the fourth quarter, HoldingsChannel reports. The firm owned 88,824 shares of the company’s stock after selling 28,663 shares during the period. Schroder Investment Management Group’s holdings in PureCycle Technologies were worth $910,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PCT. Charles Schwab Investment Management Inc. increased its holdings in shares of PureCycle Technologies by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,100,281 shares of the company’s stock worth $10,453,000 after buying an additional 19,989 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of PureCycle Technologies by 32.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 64,196 shares of the company’s stock worth $610,000 after acquiring an additional 15,837 shares during the last quarter. FMR LLC grew its position in PureCycle Technologies by 0.5% in the third quarter. FMR LLC now owns 230,755 shares of the company’s stock worth $2,192,000 after acquiring an additional 1,083 shares in the last quarter. IHT Wealth Management LLC bought a new position in PureCycle Technologies in the third quarter valued at $485,000. Finally, State Street Corp increased its stake in PureCycle Technologies by 0.8% in the third quarter. State Street Corp now owns 2,809,178 shares of the company’s stock valued at $26,687,000 after acquiring an additional 21,706 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

PureCycle Technologies Trading Up 3.3 %

Shares of PCT stock opened at $6.19 on Tuesday. The business has a 50-day moving average price of $8.48 and a two-hundred day moving average price of $10.18. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.11 billion, a P/E ratio of -4.13 and a beta of 1.68.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). Equities analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Sylebra Capital Llc bought 619,925 shares of the stock in a transaction dated Thursday, February 6th. The stock was bought at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the purchase, the insider now owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. The trade was a 1.85 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.44% of the company’s stock.

PureCycle Technologies 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.