PDT Partners LLC Buys 27,543 Shares of Perion Network Ltd $PERI

Key Points

• PDT Partners LLC increased its stake in Perion Network Ltd by 23.9%, acquiring an additional 27,543 shares, bringing its total ownership to 142,640 shares valued at approximately $1.16 million.
• Other institutional investors also raised their stakes in Perion Network, with BNP Paribas Financial Markets increasing its holdings by 89.1% and Clearline Capital LP raising theirs by 20.5% in the fourth quarter.
• Perion Network's stock currently has a consensus rating of "Moderate Buy" with an average price target of $12.38, as several analysts recently increased their price objectives for the stock.

PDT Partners LLC increased its holdings in shares of Perion Network Ltd (NASDAQ:PERI - Free Report) by 23.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,640 shares of the technology company's stock after purchasing an additional 27,543 shares during the period. PDT Partners LLC owned approximately 0.32% of Perion Network worth $1,161,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PERI. BNP Paribas Financial Markets lifted its holdings in shares of Perion Network by 89.1% during the 4th quarter. BNP Paribas Financial Markets now owns 46,053 shares of the technology company's stock valued at $390,000 after purchasing an additional 21,697 shares in the last quarter. Clearline Capital LP raised its position in Perion Network by 20.5% in the 4th quarter. Clearline Capital LP now owns 339,705 shares of the technology company's stock valued at $2,877,000 after buying an additional 57,880 shares during the last quarter. Man Group plc lifted its stake in Perion Network by 11.6% in the 4th quarter. Man Group plc now owns 215,027 shares of the technology company's stock valued at $1,821,000 after acquiring an additional 22,274 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Perion Network by 56.4% in the 4th quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company's stock valued at $225,000 after acquiring an additional 9,589 shares in the last quarter. Finally, Systematic Financial Management LP lifted its stake in Perion Network by 38.3% in the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock valued at $5,489,000 after acquiring an additional 179,557 shares in the last quarter. Institutional investors own 68.12% of the company's stock.

Analysts Set New Price Targets

PERI has been the topic of a number of recent analyst reports. Roth Capital set a $14.00 target price on Perion Network in a report on Wednesday, May 14th. Roth Mkm raised Perion Network from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.00 to $14.00 in a report on Wednesday, May 14th. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a report on Wednesday, May 14th. Lake Street Capital boosted their target price on Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen raised Perion Network from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Perion Network currently has an average rating of "Moderate Buy" and a consensus target price of $12.38.

Perion Network Price Performance

NASDAQ PERI traded down $0.06 during trading hours on Tuesday, reaching $9.18. The company's stock had a trading volume of 89,667 shares, compared to its average volume of 414,948. The firm has a fifty day simple moving average of $10.18 and a 200-day simple moving average of $9.52. The stock has a market cap of $411.49 million, a P/E ratio of -76.50, a P/E/G ratio of 0.81 and a beta of 1.46. Perion Network Ltd has a 52 week low of $6.99 and a 52 week high of $11.79.

Perion Network 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.