Millennium Management LLC Has $376,000 Holdings in Perion Network Ltd. (NASDAQ:PERI)

Millennium Management LLC reduced its position in Perion Network Ltd. (NASDAQ:PERI - Free Report) by 35.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,382 shares of the technology company's stock after selling 24,407 shares during the period. Millennium Management LLC owned about 0.09% of Perion Network worth $376,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in Perion Network during the fourth quarter valued at $489,000. Private Capital Management LLC increased its stake in shares of Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock worth $18,816,000 after acquiring an additional 598,228 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Perion Network during the fourth quarter worth $755,000. Clearline Capital LP boosted its position in Perion Network by 20.5% during the fourth quarter. Clearline Capital LP now owns 339,705 shares of the technology company's stock valued at $2,877,000 after purchasing an additional 57,880 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Perion Network in the 4th quarter valued at approximately $615,000. Institutional investors and hedge funds own 68.12% of the company's stock.

Perion Network Trading Down 1.8%

Perion Network stock traded down $0.19 on Tuesday, reaching $10.21. 200,802 shares of the stock were exchanged, compared to its average volume of 470,935. The stock has a market cap of $457.66 million, a PE ratio of 39.27, a PEG ratio of 0.76 and a beta of 1.47. The firm has a fifty day moving average price of $9.46 and a two-hundred day moving average price of $8.97. Perion Network Ltd. has a twelve month low of $6.99 and a twelve month high of $11.79.

Analysts Set New Price Targets

PERI has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a research note on Wednesday, May 14th. Wall Street Zen raised shares of Perion Network from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Roth Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $9.00 to $14.00 in a report on Wednesday, May 14th. Lake Street Capital raised their target price on Perion Network from $10.50 to $13.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Roth Capital set a $14.00 price target on Perion Network in a research report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" 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.