Acadian Asset Management LLC Has $10.91 Million Position in Perion Network Ltd $PERI

Key Points

• Acadian Asset Management LLC has reduced its stake in Perion Network Ltd by 28.4%, now holding 1,342,226 shares worth approximately $10.9 million.
• Several large investors, including Goldman Sachs and Phoenix Financial Ltd, have increased their stakes, reflecting a significant interest in Perion Network.
• Analysts have generally rated Perion Network with a "Moderate Buy" consensus, with a target price increased to $14.00 by Lake Street Capital.

Acadian Asset Management LLC decreased its holdings in shares of Perion Network Ltd (NASDAQ:PERI - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,342,226 shares of the technology company's stock after selling 532,048 shares during the period. Acadian Asset Management LLC owned approximately 2.99% of Perion Network worth $10,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Caption Management LLC purchased a new stake in Perion Network during the first quarter valued at about $60,000. NewEdge Advisors LLC purchased a new stake in Perion Network during the first quarter valued at about $160,000. State of Wyoming lifted its stake in Perion Network by 217.2% during the fourth quarter. State of Wyoming now owns 19,676 shares of the technology company's stock valued at $167,000 after buying an additional 13,472 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Perion Network by 56.4% during the fourth quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company's stock valued at $225,000 after buying an additional 9,589 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Perion Network by 89.1% during the fourth quarter. BNP Paribas Financial Markets now owns 46,053 shares of the technology company's stock valued at $390,000 after buying an additional 21,697 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 $0.39 during mid-day trading on Thursday, reaching $9.89. The company had a trading volume of 181,092 shares, compared to its average volume of 410,985. The stock has a fifty day moving average of $9.95 and a two-hundred day moving average of $9.55. The company has a market capitalization of $443.32 million, a price-to-earnings ratio of -82.58, a PEG ratio of 0.84 and a beta of 1.46. Perion Network Ltd has a 12-month low of $6.99 and a 12-month high of $11.79.

Analyst Ratings Changes

A number of research firms have commented on PERI. Wall Street Zen raised shares of Perion Network from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Lake Street Capital upped their price objective on shares of Perion Network from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Perion Network currently has an average rating of "Moderate Buy" and an average target price of $12.38.

Perion Network 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.