Perion Network Ltd. (NASDAQ:PERI) Short Interest Update

Perion Network Ltd. (NASDAQ:PERI) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 1,290,000 shares, a decrease of 12.8% from the August 31st total of 1,480,000 shares. Based on an average trading volume of 465,700 shares, the short-interest ratio is presently 2.8 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PERI. BigSur Wealth Management LLC bought a new position in shares of Perion Network during the second quarter valued at about $84,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Perion Network by 17.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock valued at $128,000 after buying an additional 2,299 shares during the last quarter. Van ECK Associates Corp increased its stake in Perion Network by 9.7% in the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock valued at $138,000 after buying an additional 1,468 shares during the last quarter. Riverwater Partners LLC bought a new position in shares of Perion Network during the 2nd quarter worth approximately $157,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Perion Network in the 2nd quarter worth approximately $157,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Trading Down 1.5 %

Shares of NASDAQ PERI opened at $7.97 on Friday. The firm has a market capitalization of $382.49 million, a P/E ratio of 3.80, a P/E/G ratio of 0.40 and a beta of 1.48. The firm’s 50-day moving average price is $8.37 and its 200-day moving average price is $11.33. Perion Network has a 1-year low of $7.47 and a 1-year high of $32.99.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $108.69 million during the quarter, compared to the consensus estimate of $106.98 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. Equities research analysts forecast that Perion Network will post 0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PERI. Lake Street Capital upgraded shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a report on Thursday, August 1st. Finally, Oppenheimer downgraded Perion Network from an “outperform” rating to a “market perform” rating in a report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.67.

Perion Network Company 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.