Perion Network Ltd $PERI Holdings Lifted by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP increased its stake in Perion Network Ltd by 10.0%, now owning 713,177 shares valued at approximately $5.8 million.
• Several hedge funds have also adjusted their positions in Perion Network, with notable increases including a 217.2% boost from the State of Wyoming.
• Brokerage firms have recently upgraded their ratings for Perion Network, with Roth Mkm raising the price target from $9.00 to $14.00 and a consensus rating of "Moderate Buy."

Systematic Financial Management LP boosted its position in Perion Network Ltd (NASDAQ:PERI - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 713,177 shares of the technology company's stock after acquiring an additional 65,092 shares during the period. Systematic Financial Management LP owned about 1.59% of Perion Network worth $5,805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in shares of Perion Network during the 4th quarter valued at $41,000. State of Wyoming grew its stake in shares of Perion Network by 217.2% during the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company's stock valued at $167,000 after buying an additional 13,472 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Perion Network by 56.4% during the 4th quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company's stock valued at $225,000 after buying an additional 9,589 shares during the period. Jump Financial LLC grew its stake in shares of Perion Network by 150.1% during the 4th quarter. Jump Financial LLC now owns 44,659 shares of the technology company's stock valued at $378,000 after buying an additional 26,799 shares during the period. Finally, 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 acquiring an additional 21,697 shares in the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.

Perion Network Price Performance

Shares of NASDAQ:PERI traded down $0.06 during trading on Friday, reaching $9.25. 38,931 shares of the company's stock traded hands, compared to its average volume of 418,504. Perion Network Ltd has a 12 month low of $6.99 and a 12 month high of $11.79. The company has a 50 day moving average of $10.28 and a 200-day moving average of $9.52. The stock has a market capitalization of $414.45 million, a P/E ratio of -77.04, a price-to-earnings-growth ratio of 0.82 and a beta of 1.43.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PERI. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a report 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 Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $9.00 to $14.00 in a report on Wednesday, May 14th. Lake Street Capital boosted their price objective on shares of Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Finally, Roth Capital set a $14.00 price objective on shares of Perion Network in a report on Wednesday, May 14th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Perion Network has a consensus rating of "Moderate Buy" and a consensus target price of $12.38.

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.