Traders Buy Large Volume of Perion Network Put Options (NASDAQ:PERI)

Perion Network Ltd. (NASDAQ:PERI - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock traders bought 4,065 put options on the company. This represents an increase of 813% compared to the typical daily volume of 445 put options.

Institutional Trading of Perion Network

A number of large investors have recently modified their holdings of the stock. Private Capital Management LLC increased its position in shares of Perion Network by 33.4% during the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock worth $18,816,000 after acquiring an additional 598,228 shares during the period. Systematic Financial Management LP increased its position in shares of Perion Network by 38.3% during the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock worth $5,489,000 after acquiring an additional 179,557 shares during the period. Y.D. More Investments Ltd increased its position in shares of Perion Network by 10.3% during the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company's stock worth $3,346,000 after acquiring an additional 36,624 shares during the period. JPMorgan Chase & Co. increased its position in shares of Perion Network by 39.5% during the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock worth $2,984,000 after acquiring an additional 107,278 shares during the period. Finally, Clearline Capital LP increased its position in shares of Perion Network by 20.5% during the fourth quarter. Clearline Capital LP now owns 339,705 shares of the technology company's stock worth $2,877,000 after acquiring an additional 57,880 shares during the period. Hedge funds and other institutional investors own 68.12% of the company's stock.

Perion Network Stock Down 0.2 %

NASDAQ:PERI traded down $0.02 during trading hours on Friday, reaching $8.52. 423,282 shares of the stock were exchanged, compared to its average volume of 412,279. The business has a 50-day moving average of $8.89 and a two-hundred day moving average of $8.55. Perion Network has a twelve month low of $7.47 and a twelve month high of $23.74. The company has a market capitalization of $381.95 million, a price-to-earnings ratio of 32.77, a PEG ratio of 0.76 and a beta of 1.48.

Perion Network (NASDAQ:PERI - Get Free Report) last released its quarterly 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). Perion Network had a return on equity of 5.54% and a net margin of 2.53%. The firm had revenue of $129.58 million for the quarter, compared to analyst estimates of $130.44 million. On average, research analysts forecast that Perion Network will post 0.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com cut Perion Network from a "hold" rating to a "sell" rating in a report on Thursday. Lake Street Capital reiterated a "buy" rating and issued a $10.50 price objective (down from $11.00) on shares of Perion Network in a report on Wednesday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Perion Network presently has an average rating of "Hold" and a consensus price target of $12.25.

Perion Network Company Profile

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.