Perion Network Ltd $PERI Shares Sold by Petrus Trust Company LTA

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 lessened its holdings in Perion Network Ltd (NASDAQ:PERI - Free Report) by 77.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,105 shares of the technology company's stock after selling 62,130 shares during the period. Petrus Trust Company LTA's holdings in Perion Network were worth $147,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Value Base Ltd. purchased a new position in shares of Perion Network in the 1st quarter valued at about $18,799,000. Phoenix Financial Ltd. increased its stake 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 worth $18,554,000 after buying an additional 54,909 shares in the last quarter. Sphera Management Technology Funds Ltd purchased a new stake in Perion Network during the 4th quarter worth approximately $995,000. Systematic Financial Management LP increased its stake 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 worth $5,489,000 after buying an additional 179,557 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake 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 worth $554,000 after buying an additional 33,765 shares in the last quarter. Hedge funds and other institutional investors own 68.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PERI. Lake Street Capital boosted their price objective on Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded Perion Network from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Perion Network presently has an average rating of "Moderate Buy" and an average price target of $12.38.

Perion Network Price Performance

PERI traded down $0.05 during trading hours on Monday, reaching $9.24. The company's stock had a trading volume of 51,837 shares, compared to its average volume of 410,984. Perion Network Ltd has a fifty-two week low of $6.99 and a fifty-two week high of $11.79. The stock has a market cap of $414.18 million, a PE ratio of -77.00, a P/E/G ratio of 0.82 and a beta of 1.46. The business's 50-day moving average is $10.04 and its 200-day moving average is $9.54.

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.