Perion Network (NASDAQ:PERI) Stock: Insider Joy Sharon Marcus Sells 1,690 Shares

Key Points

• Perion Network director Joy Sharon Marcus sold 1,690 shares at an average price of $8.71, worth $14,719.90. The sale covered tax withholding obligations tied to vested equity awards, reducing her ownership by 5.78% to 27,570 shares.
• Perion reported quarterly EPS of $0.09, exceeding the $0.08 consensus estimate, while revenue of $98.24 million also topped expectations. Analysts forecast full-year EPS of $0.45.
• The stock opened at $8.50, below its 50-day and 200-day moving averages, with a market capitalization of $331.75 million. Despite one rating downgrade to “sell,” the consensus analyst rating remains “Moderate Buy”, with an average price target of $13.88.

Perion Network Ltd (NASDAQ:PERI - Get Free Report) Director Joy Marcus sold 1,690 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $8.71, for a total transaction of $14,719.90. Following the completion of the transaction, the director owned 27,570 shares of the company's stock, valued at $240,134.70. This trade represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Stock Performance

Perion Network stock opened at $8.50 on Monday. The firm's 50 day simple moving average is $9.30 and its 200 day simple moving average is $9.42. The firm has a market capitalization of $331.75 million, a PE ratio of -24.29, a price-to-earnings-growth ratio of 0.99 and a beta of 1.13. Perion Network Ltd has a 1-year low of $7.63 and a 1-year high of $11.27.

Perion Network (NASDAQ:PERI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $98.24 million during the quarter, compared to the consensus estimate of $96.72 million. Perion Network had a negative net margin of 2.95% and a positive return on equity of 2.43%. Research analysts forecast that Perion Network Ltd will post 0.45 earnings per share for the current year.

Institutional Trading of Perion Network

Several institutional investors and hedge funds have recently made changes to their positions in PERI. Lazard Asset Management LLC bought a new stake in shares of Perion Network during the 1st quarter worth $1,568,000. Sei Investments Co. increased its stake in Perion Network by 100.2% in the first quarter. Sei Investments Co. now owns 166,538 shares of the technology company's stock valued at $1,664,000 after acquiring an additional 83,359 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in Perion Network during the first quarter valued at about $649,000. Headlands Technologies LLC raised its position in Perion Network by 282.5% during the second quarter. Headlands Technologies LLC now owns 39,577 shares of the technology company's stock valued at $384,000 after purchasing an additional 29,231 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Perion Network during the second quarter worth about $532,000. Hedge funds and other institutional investors own 68.12% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Perion Network from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, September 25th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Perion Network currently has a consensus rating of "Moderate Buy" and an average price target of $13.88.

Perion Network Company Profile

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company's businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.

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