Value Base Ltd. Reduces Stock Position in Perion Network Ltd $PERI

Key Points

• Value Base Ltd. reduced its stock position in Perion Network Ltd by 2.2%, now holding 2,258,736 shares worth approximately $22.9 million.
• Several hedge funds, including Phoenix Financial Ltd. and Goldman Sachs Group Inc., have recently adjusted their stakes in Perion Network, indicating increased institutional interest in the stock.
• Analysts have a consensus rating of "Moderate Buy" for Perion Network, with price targets ranging from $13 to $14, reflecting positive market sentiment despite some mixed ratings.

Value Base Ltd. decreased its holdings in shares of Perion Network Ltd (NASDAQ:PERI - Free Report) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,258,736 shares of the technology company's stock after selling 50,730 shares during the quarter. Perion Network makes up 13.0% of Value Base Ltd.'s holdings, making the stock its 3rd biggest position. Value Base Ltd. owned about 5.04% of Perion Network worth $22,926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Phoenix Financial Ltd. raised its position in shares of Perion Network by 2.5% in the first quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company's stock valued at $18,554,000 after purchasing an additional 54,909 shares during the period. GHP Investment Advisors Inc. grew its stake in Perion Network by 98.3% in the 1st quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company's stock valued at $554,000 after buying an additional 33,765 shares during the last quarter. Murchinson Ltd. bought a new position in Perion Network in the 1st quarter valued at about $2,274,000. Goldman Sachs Group Inc. raised its holdings in Perion Network by 23.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company's stock valued at $2,798,000 after acquiring an additional 64,442 shares during the period. Finally, PDT Partners LLC lifted its position in Perion Network by 23.9% during the first quarter. PDT Partners LLC now owns 142,640 shares of the technology company's stock worth $1,161,000 after acquiring an additional 27,543 shares during the last quarter. 68.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on PERI shares. Craig Hallum set a $14.00 price target on Perion Network and gave the stock a "buy" rating in a report on Monday, October 13th. Lake Street Capital lifted their target price 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 shares of Perion Network from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Perion Network in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Perion Network Stock Down 0.1%

PERI stock opened at $9.48 on Friday. Perion Network Ltd has a 52 week low of $6.99 and a 52 week high of $11.79. The business has a 50-day simple moving average of $9.43 and a 200 day simple moving average of $9.80. The company has a market cap of $424.99 million, a PE ratio of -79.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.54.

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.

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