Arrowstreet Capital Limited Partnership Makes New Investment in Perion Network Ltd. (NASDAQ:PERI)

Arrowstreet Capital Limited Partnership acquired a new position in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 89,085 shares of the technology company's stock, valued at approximately $755,000. Arrowstreet Capital Limited Partnership owned 0.18% of Perion Network as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Portfolio Solutions LLC lifted its holdings in Perion Network by 8.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company's stock worth $294,000 after acquiring an additional 2,711 shares during the period. Perkins Capital Management Inc. raised its position in shares of Perion Network by 4.2% in the fourth quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company's stock valued at $470,000 after purchasing an additional 2,240 shares during the period. Fox Run Management L.L.C. raised its holdings in Perion Network by 146.0% during the 4th quarter. Fox Run Management L.L.C. now owns 36,712 shares of the technology company's stock valued at $311,000 after acquiring an additional 21,790 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Perion Network during the 4th quarter valued at $45,000. Finally, Private Capital Management LLC lifted its holdings in shares of Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock worth $18,816,000 after buying an additional 598,228 shares in the last quarter. Institutional investors own 68.12% of the company's stock.

Analyst Upgrades and Downgrades

PERI has been the topic of several research reports. Lake Street Capital restated a "buy" rating and set a $10.50 price objective (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Perion Network from a "hold" rating to a "sell" rating in a research note on Friday, April 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $12.00.

Perion Network Stock Up 3.1 %

PERI stock traded up $0.27 during midday trading on Thursday, hitting $8.95. The company's stock had a trading volume of 197,254 shares, compared to its average volume of 497,626. The firm has a market capitalization of $401.32 million, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The company has a 50 day moving average of $8.38 and a two-hundred day moving average of $8.50. Perion Network Ltd. has a 12 month low of $7.00 and a 12 month high of $13.49.

Perion Network (NASDAQ:PERI - Get Free Report) last released its earnings results 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 the consensus estimate of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. On average, analysts anticipate that Perion Network Ltd. will post 0.51 earnings per share for the current fiscal year.

About Perion Network

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.