Clearline Capital LP grew its holdings in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 339,705 shares of the technology company's stock after purchasing an additional 57,880 shares during the quarter. Clearline Capital LP owned approximately 0.70% of Perion Network worth $2,877,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in PERI. Geode Capital Management LLC boosted its stake in shares of Perion Network by 67.8% during the 3rd quarter. Geode Capital Management LLC now owns 57,975 shares of the technology company's stock worth $457,000 after acquiring an additional 23,423 shares during the last quarter. Tidal Investments LLC increased its position in Perion Network by 4.6% in the third quarter. Tidal Investments LLC now owns 50,338 shares of the technology company's stock worth $397,000 after buying an additional 2,225 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Perion Network by 39.5% in 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. Y.D. More Investments Ltd lifted its position in shares of Perion Network by 10.3% during the 4th 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. Finally, Sanctuary Advisors LLC bought a new position in shares of Perion Network during the 4th quarter valued at approximately $489,000. Hedge funds and other institutional investors own 68.12% of the company's stock.
Perion Network Trading Up 0.3 %
Shares of PERI stock traded up $0.03 during trading hours on Friday, reaching $9.66. 570,937 shares of the stock were exchanged, compared to its average volume of 476,557. Perion Network Ltd. has a 12-month low of $7.00 and a 12-month high of $12.74. The firm has a market capitalization of $433.01 million, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47. The company's 50-day moving average price is $8.47 and its 200-day moving average price is $8.65.
Perion Network (NASDAQ:PERI - Get Free Report) last issued its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The company had revenue of $129.58 million for the quarter, compared to analysts' expectations of $130.44 million. On average, sell-side analysts expect that Perion Network Ltd. will post 0.51 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on PERI. Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a research report on Thursday, April 17th. StockNews.com upgraded Perion Network from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Lake Street Capital restated a "buy" rating and issued a $10.50 price objective (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $9.00.
Check Out Our Latest Analysis on PERI
Perion Network Company Profile
(
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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