Renaissance Technologies LLC decreased its position in Perion Network Ltd. (NASDAQ:PERI - Free Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,118,409 shares of the technology company's stock after selling 58,100 shares during the period. Renaissance Technologies LLC owned about 2.29% of Perion Network worth $9,473,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Perion Network in the 4th quarter valued at about $41,000. SBI Securities Co. Ltd. acquired a new stake in Perion Network in the fourth quarter valued at approximately $45,000. Perritt Capital Management Inc acquired a new stake in Perion Network in the fourth quarter valued at approximately $127,000. XTX Topco Ltd acquired a new position in shares of Perion Network during the 3rd quarter worth approximately $150,000. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Perion Network by 8.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company's stock worth $294,000 after buying an additional 2,711 shares during the period. Institutional investors and hedge funds own 68.12% of the company's stock.
Perion Network Price Performance
NASDAQ PERI traded down $0.24 during mid-day trading on Tuesday, hitting $8.74. The stock had a trading volume of 534,168 shares, compared to its average volume of 488,755. Perion Network Ltd. has a twelve month low of $7.00 and a twelve month high of $13.49. The firm's 50 day moving average is $8.32 and its 200 day moving average is $8.53. The stock has a market capitalization of $391.77 million, a price-to-earnings ratio of 33.62, a PEG ratio of 0.76 and a beta of 1.35.
Perion Network (NASDAQ:PERI - Get Free Report) last issued its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The business had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. As a group, equities research analysts expect that Perion Network Ltd. will post 0.51 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts recently commented on PERI shares. StockNews.com lowered shares of Perion Network from a "hold" rating to a "sell" rating in a report on Friday, April 4th. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research note on Thursday, April 17th. Finally, Lake Street Capital restated a "buy" rating and set a $10.50 price target (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $12.00.
Get Our Latest Stock Analysis on Perion Network
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 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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