Public Employees Retirement System of Ohio Invests $658,000 in Perion Network Ltd. (NASDAQ:PERI)

Public Employees Retirement System of Ohio acquired a new position in shares of Perion Network Ltd. (NASDAQ:PERI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 83,234 shares of the technology company’s stock, valued at approximately $658,000. Public Employees Retirement System of Ohio owned 0.18% of Perion Network at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Perion Network by 17.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock worth $128,000 after buying an additional 2,299 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Perion Network during the 3rd quarter worth about $134,000. Van ECK Associates Corp lifted its holdings in Perion Network by 9.7% during the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock valued at $138,000 after purchasing an additional 1,468 shares during the last quarter. XTX Topco Ltd bought a new stake in Perion Network during the third quarter worth about $150,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Perion Network during the second quarter worth approximately $157,000. 68.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.13.

Perion Network Stock Performance

NASDAQ PERI opened at $8.21 on Friday. The stock has a market capitalization of $388.39 million, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.47 and a beta of 1.47. Perion Network Ltd. has a 52 week low of $7.47 and a 52 week high of $31.60. The stock has a fifty day moving average of $8.50 and a 200-day moving average of $8.56.

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.