Systematic Financial Management LP Grows Position in Perion Network Ltd. (NASDAQ:PERI)

Systematic Financial Management LP lifted its holdings in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 38.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 648,085 shares of the technology company's stock after acquiring an additional 179,557 shares during the quarter. Systematic Financial Management LP owned approximately 1.33% of Perion Network worth $5,489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PERI. Sanctuary Advisors LLC bought a new stake in Perion Network in the 4th quarter valued at $489,000. Y.D. More Investments Ltd raised its position in shares of Perion Network by 10.3% in the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company's stock valued at $3,346,000 after buying an additional 36,624 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Perion Network by 39.5% in the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock valued at $2,984,000 after buying an additional 107,278 shares in the last quarter. Private Capital Management LLC raised its position in shares of Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock valued at $18,816,000 after buying an additional 598,228 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Perion Network in the fourth quarter valued at approximately $755,000. 68.12% of the stock is currently owned by institutional investors.

Perion Network Stock Down 4.0%

PERI stock traded down $0.44 during midday trading on Tuesday, hitting $10.50. The company's stock had a trading volume of 350,061 shares, compared to its average volume of 495,365. The stock's 50-day moving average price is $8.79 and its 200 day moving average price is $8.77. Perion Network Ltd. has a 1 year low of $7.00 and a 1 year high of $12.74. The stock has a market cap of $470.66 million, a price-to-earnings ratio of 40.39, a PEG ratio of 0.76 and a beta of 1.47.

Perion Network (NASDAQ:PERI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The firm had revenue of $129.58 million for the quarter, compared to analysts' expectations of $130.44 million. As a group, equities analysts forecast that Perion Network Ltd. will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PERI shares. Roth Capital set a $14.00 target price on Perion Network in a research report on Wednesday, May 14th. Lake Street Capital upped their price objective on Perion Network from $10.50 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Roth Mkm upgraded Perion Network from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $9.00 to $14.00 in a research report on Wednesday, May 14th. Finally, StockNews.com downgraded Perion Network from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.13.

Perion Network Company 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.