ExodusPoint Capital Management LP Takes $615,000 Position in Perion Network Ltd. (NASDAQ:PERI)

ExodusPoint Capital Management LP bought a new stake in Perion Network Ltd. (NASDAQ:PERI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 72,565 shares of the technology company's stock, valued at approximately $615,000. ExodusPoint Capital Management LP owned 0.15% of Perion Network as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PERI. Point72 Asset Management L.P. acquired a new stake in shares of Perion Network in the 3rd quarter valued at $134,000. XTX Topco Ltd bought a new position in Perion Network in the 3rd quarter valued at approximately $150,000. Public Employees Retirement System of Ohio acquired a new stake in Perion Network in the third quarter valued at approximately $658,000. Geode Capital Management LLC grew its stake in shares of Perion Network by 67.8% during the third quarter. Geode Capital Management LLC now owns 57,975 shares of the technology company's stock worth $457,000 after buying an additional 23,423 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Perion Network by 4.6% during 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. Institutional investors own 68.12% of the company's stock.

Perion Network Stock Performance

Shares of NASDAQ:PERI traded up $0.25 during midday trading on Thursday, reaching $8.93. The company's stock had a trading volume of 264,109 shares, compared to its average volume of 497,689. The firm has a 50 day moving average price of $8.38 and a two-hundred day moving average price of $8.50. Perion Network Ltd. has a fifty-two week low of $7.00 and a fifty-two week high of $13.49. The firm has a market capitalization of $400.29 million, a price-to-earnings ratio of 34.36, a PEG ratio of 0.76 and a beta of 1.35.

Perion Network (NASDAQ:PERI - Get Free Report) last issued its quarterly earnings results 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 net margin of 2.53% and a return on equity of 5.55%. As a group, research analysts anticipate that Perion Network Ltd. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.