Invenomic Capital Management LP Has $2.51 Million Stake in Perion Network Ltd. (NASDAQ:PERI)

Invenomic Capital Management LP trimmed its holdings in Perion Network Ltd. (NASDAQ:PERI - Free Report) by 13.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,808 shares of the technology company's stock after selling 45,635 shares during the quarter. Invenomic Capital Management LP owned about 0.61% of Perion Network worth $2,505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of Perion Network by 67.8% during the 3rd 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 during the last quarter. Tidal Investments LLC lifted its position in shares of Perion Network by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 50,338 shares of the technology company's stock valued at $397,000 after acquiring an additional 2,225 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Perion Network by 39.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock valued at $2,984,000 after acquiring an additional 107,278 shares during the last quarter. Y.D. More Investments Ltd lifted its position in shares of 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 acquiring an additional 36,624 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Perion Network during the 4th quarter valued at $489,000. 68.12% of the stock is owned by institutional investors.

Perion Network Stock Performance

Shares of NASDAQ:PERI traded down $0.09 during midday trading on Friday, hitting $10.72. 626,975 shares of the stock were exchanged, compared to its average volume of 495,127. Perion Network Ltd. has a 52-week low of $7.00 and a 52-week high of $12.74. The business's fifty day simple moving average is $8.71 and its two-hundred day simple moving average is $8.74. The company has a market capitalization of $480.52 million, a PE ratio of 41.23, a P/E/G ratio of 0.76 and a beta of 1.47.

Perion Network (NASDAQ:PERI - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $130.44 million. As a group, equities analysts anticipate that Perion Network Ltd. will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PERI shares. StockNews.com lowered Perion Network from a "hold" rating to a "sell" rating in a report on Tuesday. Lake Street Capital increased their target price on Perion Network from $10.50 to $13.00 and gave the company a "buy" rating in a report on Wednesday. Roth Capital set a $14.00 target price on Perion Network in a report on Wednesday. Roth Mkm upgraded Perion Network from a "neutral" rating to a "buy" rating and increased their target price for the company from $9.00 to $14.00 in a report on Wednesday. Finally, Needham & Company LLC restated a "hold" rating on shares of Perion Network in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Perion Network presently has an average rating of "Hold" and an average price target of $12.13.

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.