Walleye Capital LLC Has $2.42 Million Holdings in Perion Network Ltd $PERI

Key Points

• Walleye Capital LLC reduced its stake in Perion Network Ltd by 50.7%, now owning approximately 297,238 shares worth around $2.42 million at the end of the recent quarter.
• Several large investors increased or established new positions in Perion Network during the first quarter, indicating ongoing institutional interest in the stock.
• Brokerages have provided a moderate buy rating for Perion Network, with an average target price of $12.38 following recent upgrades from several firms.

Walleye Capital LLC decreased its position in Perion Network Ltd (NASDAQ:PERI - Free Report) by 50.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 297,238 shares of the technology company's stock after selling 305,473 shares during the period. Walleye Capital LLC owned about 0.66% of Perion Network worth $2,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Systematic Financial Management LP boosted its stake 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 period. Jump Financial LLC boosted its stake 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 period. Value Base Ltd. acquired a new stake in shares of Perion Network during the 1st quarter valued at $18,799,000. LPL Financial LLC boosted its stake in shares of Perion Network by 2.8% during the 1st quarter. LPL Financial LLC now owns 243,563 shares of the technology company's stock valued at $1,983,000 after buying an additional 6,649 shares during the period. Finally, Phoenix Financial Ltd. boosted its stake in shares of 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 during the period. Institutional investors and hedge funds own 68.12% of the company's stock.

Perion Network Stock Performance

Shares of NASDAQ:PERI traded up $0.21 on Wednesday, hitting $9.28. 106,625 shares of the company were exchanged, compared to its average volume of 416,915. The company's 50 day moving average price is $10.25 and its two-hundred day moving average price is $9.51. Perion Network Ltd has a one year low of $6.99 and a one year high of $11.79. The firm has a market capitalization of $415.98 million, a price-to-earnings ratio of -77.53, a PEG ratio of 0.81 and a beta of 1.46.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PERI. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research note on Wednesday, May 14th. Roth Mkm raised 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 note on Wednesday, May 14th. Wall Street Zen upgraded shares of Perion Network from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Roth Capital set a $14.00 price target on shares of Perion Network in a report on Wednesday, May 14th. Finally, Lake Street Capital raised their price target on shares of Perion Network from $13.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Three investment 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 company has an average rating of "Moderate Buy" and a consensus price target of $12.38.

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.