Perion Network Ltd. (NASDAQ:PERI) Position Increased by Private Capital Management LLC

Private Capital Management LLC lifted its holdings in Perion Network Ltd. (NASDAQ:PERI) by 33.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,387,800 shares of the technology company’s stock after buying an additional 598,228 shares during the quarter. Perion Network makes up 3.8% of Private Capital Management LLC’s portfolio, making the stock its 17th biggest position. Private Capital Management LLC owned approximately 4.96% of Perion Network worth $18,816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Tidal Investments LLC lifted its holdings in Perion Network by 4.6% in the third quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock worth $397,000 after acquiring an additional 2,225 shares during the last quarter. Equitable Trust Co. raised its position in shares of Perion Network by 19.1% during the 3rd quarter. Equitable Trust Co. now owns 65,770 shares of the technology company’s stock worth $518,000 after purchasing an additional 10,535 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Perion Network by 23.2% in the 4th quarter. New York State Common Retirement Fund now owns 82,480 shares of the technology company’s stock worth $699,000 after purchasing an additional 15,509 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Perion Network during the 3rd quarter valued at approximately $134,000. Finally, XTX Topco Ltd bought a new position in Perion Network during the 3rd quarter worth $150,000. 68.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PERI has been the topic of a number of recent research reports. Lake Street Capital reiterated a “buy” rating and issued a $10.50 target price (down from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. Finally, StockNews.com cut shares of Perion Network from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.25.

Perion Network Stock Down 1.0 %

Shares of NASDAQ PERI opened at $8.49 on Friday. The stock has a market cap of $380.56 million, a P/E ratio of 32.66, a P/E/G ratio of 0.76 and a beta of 1.48. The firm’s 50-day simple moving average is $8.90 and its 200 day simple moving average is $8.56. Perion Network Ltd. has a fifty-two week low of $7.47 and a fifty-two week high of $23.74.

Perion Network (NASDAQ:PERI) last released its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $129.58 million for the quarter, compared to analyst estimates of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. On average, sell-side analysts anticipate that Perion Network Ltd. will post 0.51 earnings per share for the current fiscal year.

Perion Network Profile

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It offers Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.