Perion Network Ltd. (NASDAQ:PERI) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its position in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 997.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,815 shares of the technology company's stock after purchasing an additional 121,622 shares during the quarter. Squarepoint Ops LLC owned about 0.28% of Perion Network worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BigSur Wealth Management LLC purchased a new position in Perion Network during the 2nd quarter worth $84,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Perion Network by 17.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company's stock worth $128,000 after purchasing an additional 2,299 shares during the period. Van ECK Associates Corp increased its holdings in shares of Perion Network by 9.7% in the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company's stock valued at $138,000 after acquiring an additional 1,468 shares during the period. Riverwater Partners LLC purchased a new position in shares of Perion Network in the 2nd quarter valued at $157,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Perion Network in the 2nd quarter valued at $157,000. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network Stock Down 1.0 %

Shares of Perion Network stock traded down $0.08 during trading on Friday, reaching $7.84. The company's stock had a trading volume of 227,882 shares, compared to its average volume of 718,521. The company has a market cap of $376.25 million, a price-to-earnings ratio of 3.73, 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 company has a 50-day simple moving average of $8.29 and a two-hundred day simple moving average of $10.83.

Perion Network (NASDAQ:PERI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. The firm had revenue of $108.69 million during 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, analysts anticipate that Perion Network Ltd. will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

PERI has been the topic of a number of analyst reports. Lake Street Capital upgraded Perion Network from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Wednesday, July 31st. Oppenheimer downgraded Perion Network from an "outperform" rating to a "market perform" rating in a report on Monday, June 10th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a report on Thursday, August 1st. Five investment analysts have rated the stock with 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 price target of $13.67.

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.