Perion Network Ltd. (NASDAQ:PERI) Sees Large Increase in Short Interest

Perion Network Ltd. (NASDAQ:PERI - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,270,000 shares, an increase of 24.5% from the March 31st total of 1,020,000 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 449,600 shares, the short-interest ratio is presently 2.8 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Perion Network by 67.8% in the third quarter. Geode Capital Management LLC now owns 57,975 shares of the technology company's stock valued at $457,000 after acquiring an additional 23,423 shares in the last quarter. Tidal Investments LLC lifted its holdings in Perion Network by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 50,338 shares of the technology company's stock worth $397,000 after purchasing an additional 2,225 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock worth $2,984,000 after purchasing an additional 107,278 shares during the period. Y.D. More Investments Ltd grew its holdings in Perion Network by 10.3% during the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company's stock valued at $3,346,000 after buying an additional 36,624 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Perion Network during the fourth quarter valued at approximately $489,000. Hedge funds and other institutional investors own 68.12% of the company's stock.

Perion Network Stock Down 1.2 %

NASDAQ:PERI traded down $0.11 during mid-day trading on Tuesday, hitting $9.23. 685,622 shares of the company traded hands, compared to its average volume of 481,593. The stock's fifty day moving average price is $8.37 and its 200-day moving average price is $8.62. Perion Network has a one year low of $7.00 and a one year high of $13.49. The firm has a market cap of $413.73 million, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47.

Perion Network (NASDAQ:PERI - Get Free Report) last released its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Perion Network had a return on equity of 5.55% and a net margin of 2.53%. The firm had revenue of $129.58 million during the quarter, compared to analysts' expectations of $130.44 million. Equities analysts predict that Perion Network will post 0.51 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on PERI. StockNews.com upgraded Perion Network from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Perion Network in a research report on Thursday, April 17th. Finally, Lake Street Capital reissued a "buy" rating and issued a $10.50 price objective (down previously from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Perion Network has an average rating of "Hold" and an average price target of $12.00.

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.