Alyeska Investment Group L.P. lowered its position in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 14.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,000,000 shares of the technology company's stock after selling 167,814 shares during the period. Alyeska Investment Group L.P. owned 2.05% of Perion Network worth $8,470,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the company. Private Capital Management LLC grew its position in Perion Network by 33.4% in the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock worth $18,816,000 after purchasing an additional 598,228 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Perion Network by 39.5% during the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock worth $2,984,000 after buying an additional 107,278 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Perion Network in the 4th quarter worth approximately $755,000. ExodusPoint Capital Management LP acquired a new stake in Perion Network in the 4th quarter valued at approximately $615,000. Finally, Sanctuary Advisors LLC bought a new stake in Perion Network during the 4th quarter valued at $489,000. Institutional investors and hedge funds own 68.12% of the company's stock.
Perion Network Trading Up 0.3 %
NASDAQ:PERI traded up $0.03 during mid-day trading on Friday, reaching $9.66. 570,937 shares of the stock were exchanged, compared to its average volume of 476,557. The business has a fifty day moving average price of $8.47 and a 200 day moving average price of $8.65. Perion Network Ltd. has a 1-year low of $7.00 and a 1-year high of $12.74. The firm has a market capitalization of $433.01 million, a PE ratio of 37.16, a PEG ratio of 0.76 and a beta of 1.47.
Perion Network (NASDAQ:PERI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $129.58 million during 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%. On average, sell-side analysts forecast that Perion Network Ltd. will post 0.51 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have recently issued reports on PERI. Lake Street Capital reissued a "buy" rating and issued a $10.50 price target (down previously from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. StockNews.com raised shares of Perion Network from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Perion Network in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $9.00.
Get Our Latest Stock Analysis on Perion Network
About Perion Network
(
Free Report)
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.
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