Petrus Trust Company LTA Sells 62,130 Shares of Perion Network Ltd $PERI

Key Points

• Petrus Trust Company LTA has reduced its stake in Perion Network Ltd by 77.4%, selling 62,130 shares and leaving it with 18,105 shares valued at $147,000.
• Multiple institutional investors have modified their positions in Perion Network, with notable increases from State of Wyoming (up 217.2%) and BNP Paribas Financial Markets (up 89.1%) in the previous quarter.
• Current analyst ratings show a consensus of "Moderate Buy" for Perion Network, with price targets raised to an average of $12.38 following positive reports from firms like Roth Capital and Lake Street Capital.

Petrus Trust Company LTA decreased its position in Perion Network Ltd (NASDAQ:PERI - Free Report) by 77.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,105 shares of the technology company's stock after selling 62,130 shares during the quarter. Petrus Trust Company LTA's holdings in Perion Network were worth $147,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Caption Management LLC bought a new position in Perion Network in the first quarter worth $60,000. NewEdge Advisors LLC bought a new position in Perion Network in the first quarter worth $160,000. State of Wyoming raised its holdings in Perion Network by 217.2% in the fourth quarter. State of Wyoming now owns 19,676 shares of the technology company's stock worth $167,000 after purchasing an additional 13,472 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Perion Network by 56.4% in the fourth quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company's stock worth $225,000 after purchasing an additional 9,589 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Perion Network by 89.1% in the fourth quarter. BNP Paribas Financial Markets now owns 46,053 shares of the technology company's stock worth $390,000 after purchasing an additional 21,697 shares in the last quarter. Institutional investors own 68.12% of the company's stock.

Perion Network Trading Down 1.6%

NASDAQ PERI opened at $9.09 on Wednesday. Perion Network Ltd has a 12 month low of $6.99 and a 12 month high of $11.79. The stock has a market cap of $407.50 million, a P/E ratio of -75.75, a P/E/G ratio of 0.82 and a beta of 1.46. The stock's fifty day moving average price is $10.15 and its 200-day moving average price is $9.52.

Analyst Upgrades and Downgrades

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

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