Systematic Financial Management LP Has $5.81 Million Stock Position in Perion Network Ltd $PERI

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 raised its stake in Perion Network Ltd (NASDAQ:PERI - Free Report) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 1.59% of Perion Network worth $5,805,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Value Base Ltd. acquired a new position in Perion Network in the 1st quarter valued at $18,799,000. Phoenix Financial Ltd. raised its holdings in Perion Network by 2.5% in the 1st quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company's stock valued at $18,554,000 after acquiring an additional 54,909 shares in the last quarter. Clearline Capital LP raised its holdings in Perion Network by 20.5% in the 4th quarter. Clearline Capital LP now owns 339,705 shares of the technology company's stock valued at $2,877,000 after acquiring an additional 57,880 shares in the last quarter. LPL Financial LLC raised its holdings in Perion Network by 2.8% in the 1st quarter. LPL Financial LLC now owns 243,563 shares of the technology company's stock valued at $1,983,000 after acquiring an additional 6,649 shares in the last quarter. Finally, Man Group plc raised its holdings in shares of Perion Network by 11.6% during the 4th quarter. Man Group plc now owns 215,027 shares of the technology company's stock worth $1,821,000 after buying an additional 22,274 shares in the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

Perion Network Trading Up 0.3%

PERI stock traded up $0.03 during mid-day trading on Thursday, reaching $9.30. The company's stock had a trading volume of 146,144 shares, compared to its average volume of 420,834. The company has a market cap of $416.87 million, a price-to-earnings ratio of -77.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.43. The business's 50 day moving average price is $10.28 and its 200 day moving average price is $9.52. Perion Network Ltd has a 12 month low of $6.99 and a 12 month high of $11.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PERI shares. Lake Street Capital boosted their price target on Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Wall Street Zen upgraded Perion Network from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Roth Capital set a $14.00 price objective on Perion Network in a research report on Wednesday, May 14th. Finally, Roth Mkm upgraded Perion Network from a "neutral" rating to a "buy" rating and upped their price target for the company from $9.00 to $14.00 in a research report 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.38.

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.