GHP Investment Advisors Inc. Buys 33,765 Shares of Perion Network Ltd (NASDAQ:PERI)

GHP Investment Advisors Inc. boosted its stake in Perion Network Ltd (NASDAQ:PERI - Free Report) by 98.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,107 shares of the technology company's stock after purchasing an additional 33,765 shares during the quarter. GHP Investment Advisors Inc. owned about 0.15% of Perion Network worth $554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Perkins Capital Management Inc. grew its stake in 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 acquiring an additional 2,240 shares during the period. Two Sigma Advisers LP grew its stake in Perion Network by 2.2% in the fourth quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company's stock valued at $988,000 after acquiring an additional 2,500 shares during the period. Orion Portfolio Solutions LLC grew its stake in Perion Network by 8.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company's stock valued at $294,000 after acquiring an additional 2,711 shares during the period. Russell Investments Group Ltd. acquired a new position in Perion Network in the fourth quarter valued at about $41,000. Finally, SBI Securities Co. Ltd. acquired a new position in Perion Network in the fourth quarter valued at about $45,000. Institutional investors own 68.12% of the company's stock.

Perion Network Stock Performance

Shares of NASDAQ PERI traded down $0.16 during trading hours on Friday, reaching $10.10. 132,471 shares of the stock were exchanged, compared to its average volume of 406,985. The firm has a market capitalization of $452.78 million, a price-to-earnings ratio of -59.41, a P/E/G ratio of 0.99 and a beta of 1.48. Perion Network Ltd has a 52 week low of $7.00 and a 52 week high of $11.79. The stock's fifty day simple moving average is $9.97 and its 200 day simple moving average is $9.06.

Wall Street Analysts Forecast Growth

PERI has been the subject of several recent research reports. Lake Street Capital upped their price objective on Perion Network from $10.50 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Wall Street Zen raised Perion Network from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Roth Capital set a $14.00 price objective on Perion Network in a research note on Wednesday, May 14th. Finally, Roth Mkm upgraded Perion Network from a "neutral" rating to a "buy" rating and upped their price objective for the company from $9.00 to $14.00 in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.13.

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.