Perkins Capital Management Inc. Raises Position in Perion Network Ltd. (NASDAQ:PERI)

Perkins Capital Management Inc. raised its holdings in shares of Perion Network Ltd. (NASDAQ:PERI) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,450 shares of the technology company’s stock after buying an additional 2,240 shares during the quarter. Perkins Capital Management Inc. owned about 0.11% of Perion Network worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in shares of Perion Network during the fourth quarter worth about $45,000. Point72 Asset Management L.P. bought a new stake in Perion Network during the third quarter valued at approximately $134,000. XTX Topco Ltd purchased a new position in Perion Network in the 3rd quarter worth approximately $150,000. Fox Run Management L.L.C. increased its holdings in shares of Perion Network by 146.0% in the 4th quarter. Fox Run Management L.L.C. now owns 36,712 shares of the technology company’s stock worth $311,000 after buying an additional 21,790 shares during the last quarter. Finally, Tidal Investments LLC raised 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 buying an additional 2,225 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PERI. Lake Street Capital reiterated a “buy” rating and issued a $10.50 target price (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Finally, StockNews.com cut Perion Network from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.25.

Perion Network Trading Down 0.1 %

PERI opened at $8.14 on Monday. The company has a market cap of $364.88 million, a P/E ratio of 31.31, a P/E/G ratio of 0.76 and a beta of 1.53. Perion Network Ltd. has a 12 month low of $7.47 and a 12 month high of $23.03. The business’s 50-day moving average price is $8.82 and its 200-day moving average price is $8.53.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The company had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Equities research analysts forecast that Perion Network Ltd. will post 0.51 earnings per share for the current fiscal year.

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.