279,380 Shares in Perion Network Ltd $PERI Acquired by Murchinson Ltd.

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. bought a new position in Perion Network Ltd (NASDAQ:PERI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 279,380 shares of the technology company's stock, valued at approximately $2,274,000. Perion Network accounts for about 0.1% of Murchinson Ltd.'s portfolio, making the stock its 29th biggest position. Murchinson Ltd. owned about 0.62% of Perion Network at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PERI. NewEdge Advisors LLC acquired a new stake in Perion Network in the 1st quarter worth $160,000. PDT Partners LLC grew its position in Perion Network by 23.9% in the 1st quarter. PDT Partners LLC now owns 142,640 shares of the technology company's stock worth $1,161,000 after purchasing an additional 27,543 shares during the last quarter. Caption Management LLC acquired a new stake in Perion Network in the 1st quarter worth $60,000. Systematic Financial Management LP grew its position in 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 purchasing an additional 65,092 shares during the last quarter. Finally, Jump Financial LLC grew its position in Perion Network by 31.5% in the 1st quarter. Jump Financial LLC now owns 58,709 shares of the technology company's stock worth $478,000 after purchasing an additional 14,050 shares during the last quarter. Institutional investors own 68.12% of the company's stock.

Perion Network Stock Performance

Shares of NASDAQ PERI traded up $0.14 during mid-day trading on Thursday, reaching $9.35. 149,319 shares of the company's stock were exchanged, compared to its average volume of 413,573. The firm has a market capitalization of $418.94 million, a price-to-earnings ratio of -77.88, a PEG ratio of 0.80 and a beta of 1.46. The company's 50-day moving average is $10.11 and its 200-day moving average is $9.52. Perion Network Ltd has a 52-week low of $6.99 and a 52-week high of $11.79.

Analysts Set New Price Targets

Several analysts have issued reports on PERI shares. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Roth Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and lifted their target price for the company from $9.00 to $14.00 in a research report on Wednesday, May 14th. Lake Street Capital lifted 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. Wall Street Zen upgraded shares of Perion Network from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Roth Capital set a $14.00 target price on shares of Perion Network in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.38.

About Perion Network

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.