GSA Capital Partners LLP Grows Holdings in Perion Network Ltd. (NASDAQ:PERI)

GSA Capital Partners LLP grew its holdings in Perion Network Ltd. (NASDAQ:PERI) by 436.2% during the third quarter, HoldingsChannel.com reports. The firm owned 76,463 shares of the technology company’s stock after acquiring an additional 62,204 shares during the quarter. GSA Capital Partners LLP’s holdings in Perion Network were worth $603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PERI. Equitable Trust Co. raised its holdings in shares of Perion Network by 19.1% in the third quarter. Equitable Trust Co. now owns 65,770 shares of the technology company’s stock valued at $518,000 after acquiring an additional 10,535 shares in the last quarter. ARK Investment Management LLC grew its stake in Perion Network by 24.2% in the third quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company’s stock valued at $1,880,000 after purchasing an additional 46,542 shares during the last quarter. Squarepoint Ops LLC grew its stake in Perion Network by 997.5% in the second quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock valued at $1,117,000 after purchasing an additional 121,622 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in Perion Network in the second quarter valued at about $696,000. Finally, Sei Investments Co. grew its stake in Perion Network by 9.4% in the second quarter. Sei Investments Co. now owns 59,343 shares of the technology company’s stock valued at $496,000 after purchasing an additional 5,078 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

Shares of PERI stock opened at $8.52 on Tuesday. The company has a market cap of $403.06 million, a price-to-earnings ratio of 9.16, a PEG ratio of 0.42 and a beta of 1.47. The stock has a 50 day simple moving average of $8.18 and a 200-day simple moving average of $9.07. Perion Network Ltd. has a 1-year low of $7.47 and a 1-year high of $32.99.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PERI. Stifel Nicolaus dropped their price target on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Monday, October 14th. Lake Street Capital upgraded Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.13.

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.