Perion Network Ltd. (NASDAQ:PERI) Shares Purchased by Private Capital Management LLC

Private Capital Management LLC boosted its holdings in Perion Network Ltd. (NASDAQ:PERI) by 33.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,387,800 shares of the technology company’s stock after acquiring an additional 598,228 shares during the quarter. Perion Network comprises about 3.8% of Private Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Private Capital Management LLC’s holdings in Perion Network were worth $18,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. New York State Common Retirement Fund raised 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 in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Perion Network in the fourth quarter valued at $489,000. Y.D. More Investments Ltd increased its holdings in shares of Perion Network by 10.3% in the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock valued at $3,346,000 after buying an additional 36,624 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Perion Network by 39.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after acquiring an additional 107,278 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Perion Network by 4.6% during the 3rd 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 in the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Perion Network Stock Down 1.0 %

Shares of Perion Network stock opened at $8.49 on Friday. The stock has a market cap of $380.56 million, a PE ratio of 32.66, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. Perion Network Ltd. has a 12 month low of $7.47 and a 12 month high of $23.74. The business has a fifty day simple moving average of $8.90 and a 200-day simple moving average of $8.56.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $129.58 million for the quarter, compared to analyst estimates of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. Analysts expect that Perion Network Ltd. will post 0.51 EPS for the current fiscal year.

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.