Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 12.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,299,039 shares of the technology company's stock after acquiring an additional 260,000 shares during the quarter. Perion Network comprises about 1.4% of Migdal Insurance & Financial Holdings Ltd.'s investment portfolio, making the stock its 18th biggest position. Migdal Insurance & Financial Holdings Ltd. owned 4.98% of Perion Network worth $70,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PERI. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Perion Network by 46.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,972,744 shares of the technology company's stock valued at $91,055,000 after purchasing an additional 945,194 shares in the last quarter. Meitav Investment House Ltd. lifted its position in shares of Perion Network by 62.7% during the third quarter. Meitav Investment House Ltd. now owns 998,854 shares of the technology company's stock valued at $30,644,000 after buying an additional 385,010 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Perion Network by 718.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 425,102 shares of the technology company's stock valued at $16,780,000 after buying an additional 373,145 shares in the last quarter. Millennium Management LLC grew its position in shares of Perion Network by 1,472.8% in the 4th quarter. Millennium Management LLC now owns 367,338 shares of the technology company's stock worth $9,294,000 after buying an additional 343,982 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Perion Network by 14.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company's stock worth $81,199,000 after acquiring an additional 330,000 shares in the last quarter. 68.12% of the stock is currently owned by hedge funds and other institutional investors.
Perion Network Stock Performance
Shares of PERI stock traded down $0.26 on Wednesday, hitting $11.63. 1,019,921 shares of the stock traded hands, compared to its average volume of 855,166. Perion Network Ltd. has a twelve month low of $11.44 and a twelve month high of $42.36. The stock has a market capitalization of $558.12 million, a PE ratio of 4.96, a PEG ratio of 0.37 and a beta of 1.24. The firm's 50-day moving average price is $21.20 and its two-hundred day moving average price is $26.08.
Perion Network (NASDAQ:PERI - Get Free Report) last posted its earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $234.23 million for the quarter, compared to analyst estimates of $233.09 million. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. Perion Network's revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. On average, equities research analysts anticipate that Perion Network Ltd. will post 1.45 EPS for the current fiscal year.
Analyst Ratings Changes
PERI has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their target price on shares of Perion Network from $35.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, April 8th. Roth Mkm restated a "neutral" rating and issued a $13.00 target price (down previously from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Roth Capital downgraded Perion Network from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 9th. StockNews.com lowered Perion Network from a "buy" rating to a "hold" rating in a report on Thursday, February 8th. Finally, Lake Street Capital reaffirmed a "hold" rating and set a $16.00 target price on shares of Perion Network in a report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.80.
Get Our Latest Report on PERI
Perion Network Company Profile
(
Free Report)
Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides 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.
Read More
Before you consider Perion Network, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Perion Network wasn't on the list.
While Perion Network currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
