Murchinson Ltd. Invests $2.27 Million in Perion Network Ltd $PERI

Key Points

• Murchinson Ltd. has invested approximately $2.27 million in Perion Network Ltd, acquiring 279,380 shares, which constitutes about 0.1% of Murchinson's total holdings.
• Analysts have upgraded their ratings for Perion Network, with Roth Mkm and Lake Street Capital setting a target price of $14.00, reflecting a positive outlook on the stock.
• Currently, 68.12% of Perion Network's stock is owned by institutional investors, highlighting significant institutional interest in the company.

Murchinson Ltd. acquired a new stake in shares of Perion Network Ltd (NASDAQ:PERI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 279,380 shares of the technology company's stock, valued at approximately $2,274,000. Perion Network makes up 0.1% of Murchinson Ltd.'s holdings, making the stock its 29th biggest position. Murchinson Ltd. owned approximately 0.62% of Perion Network as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Value Base Ltd. bought a new stake in Perion Network during the 1st quarter valued at about $18,799,000. Phoenix Financial Ltd. lifted its holdings in Perion Network by 2.5% during the 1st quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company's stock valued at $18,554,000 after buying an additional 54,909 shares in the last quarter. Sphera Management Technology Funds Ltd bought a new stake in Perion Network during the 4th quarter valued at about $995,000. Systematic Financial Management LP lifted its holdings in Perion Network by 38.3% during the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock valued at $5,489,000 after buying an additional 179,557 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in Perion Network by 98.3% during the 1st quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company's stock valued at $554,000 after buying an additional 33,765 shares in the last quarter. Institutional investors own 68.12% of the company's stock.

Perion Network Stock Up 0.9%

Shares of Perion Network stock traded up $0.08 on Monday, reaching $9.24. The stock had a trading volume of 234,796 shares, compared to its average volume of 356,746. The company has a 50 day moving average price of $10.18 and a 200 day moving average price of $9.52. Perion Network Ltd has a 1 year low of $6.99 and a 1 year high of $11.79. The stock has a market capitalization of $414.23 million, a P/E ratio of -77.00, a P/E/G ratio of 0.81 and a beta of 1.46.

Analyst Ratings Changes

PERI has been the topic of a number of research reports. Roth Capital set a $14.00 target price on shares of Perion Network in a research report on Wednesday, May 14th. Lake Street Capital raised their target price on shares of Perion Network from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Wall Street Zen raised shares of Perion Network from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Roth Mkm raised shares of Perion Network from a "neutral" rating to a "buy" rating and raised their target price for the company from $9.00 to $14.00 in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.