Goldman Sachs Group Inc. Raises Holdings in Perion Network Ltd $PERI

Key Points

• Goldman Sachs Group Inc. increased its stake in Perion Network Ltd by 23.1% during Q1, now owning 343,723 shares valued at approximately $2.8 million.
• Recent analyst upgrades have raised the price target for Perion Network from $13.00 to $14.00, with a consensus rating of "Moderate Buy" as three analysts rate it a Buy.
• The company's shares opened at $9.83, with a market cap of $440.68 million and a 52-week range between $6.99 and $11.79.

Goldman Sachs Group Inc. grew its holdings in Perion Network Ltd (NASDAQ:PERI - Free Report) by 23.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,723 shares of the technology company's stock after buying an additional 64,442 shares during the quarter. Goldman Sachs Group Inc. owned about 0.77% of Perion Network worth $2,798,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PERI. Value Base Ltd. acquired a new stake in shares of Perion Network in the 1st quarter worth approximately $18,799,000. Murchinson Ltd. acquired a new stake in shares of Perion Network in the 1st quarter worth approximately $2,274,000. Systematic Financial Management LP grew its holdings in shares of Perion Network by 10.0% in the 1st quarter. Systematic Financial Management LP now owns 713,177 shares of the technology company's stock worth $5,805,000 after acquiring an additional 65,092 shares during the period. Phoenix Financial Ltd. grew its holdings in shares of Perion Network by 2.5% in the 1st quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company's stock worth $18,554,000 after acquiring an additional 54,909 shares during the period. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Perion Network by 98.3% in the 1st quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company's stock worth $554,000 after acquiring an additional 33,765 shares during the period. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network Trading Up 0.6%

Shares of Perion Network stock traded up $0.06 during trading hours on Tuesday, reaching $9.86. 11,283 shares of the company's stock were exchanged, compared to its average volume of 407,031. Perion Network Ltd has a 52-week low of $6.99 and a 52-week high of $11.79. The firm has a market capitalization of $441.80 million, a price-to-earnings ratio of -81.91, a price-to-earnings-growth ratio of 0.87 and a beta of 1.46. The company has a fifty day moving average of $9.88 and a 200-day moving average of $9.60.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PERI shares. Lake Street Capital upped their price target on Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Wall Street Zen upgraded Perion Network from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.38.

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.