Systematic Financial Management LP Sells 129,105 Shares of Perion Network Ltd. (NASDAQ:PERI)

Systematic Financial Management LP trimmed its holdings in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 21.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 467,538 shares of the technology company's stock after selling 129,105 shares during the quarter. Systematic Financial Management LP owned 0.97% of Perion Network worth $3,904,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Perion Network by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company's stock valued at $188,000 after acquiring an additional 847 shares during the last quarter. Virtu Financial LLC purchased a new stake in Perion Network in the fourth quarter worth $220,000. B. Riley Wealth Advisors Inc. purchased a new stake in Perion Network in the first quarter worth $204,000. BigSur Wealth Management LLC purchased a new stake in Perion Network in the second quarter worth $84,000. Finally, Lifestyle Asset Management Inc. purchased a new stake in Perion Network in the first quarter worth $230,000. 68.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PERI. Lake Street Capital raised Perion Network from a "hold" rating to a "buy" rating and set a $10.00 target price for the company in a research report on Wednesday, July 31st. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Thursday, August 1st. Finally, Oppenheimer cut Perion Network from an "outperform" rating to a "market perform" rating in a research report on Monday, June 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Perion Network has a consensus rating of "Hold" and a consensus target price of $13.67.

Perion Network Trading Down 1.1 %

Shares of NASDAQ PERI traded down $0.09 during mid-day trading on Monday, hitting $7.88. The company had a trading volume of 246,527 shares, compared to its average volume of 728,976. The company has a market capitalization of $378.17 million, a price-to-earnings ratio of 3.75, a P/E/G ratio of 0.40 and a beta of 1.48. Perion Network Ltd. has a 1 year low of $7.47 and a 1 year high of $32.99. The stock's 50-day moving average price is $8.37 and its 200-day moving average price is $11.25.

Perion Network (NASDAQ:PERI - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $108.69 million for the quarter, compared to analysts' expectations of $106.98 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. As a group, equities research analysts forecast that Perion Network Ltd. will post 0.91 earnings per share for the current year.

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.