PDT Partners LLC grew its stake in Perion Network Ltd. (NASDAQ:PERI - Free Report) by 58.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,345 shares of the technology company's stock after acquiring an additional 64,936 shares during the quarter. PDT Partners LLC owned about 0.37% of Perion Network worth $1,382,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Perion Network by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company's stock worth $33,387,000 after acquiring an additional 35,476 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Perion Network in the first quarter valued at $204,000. Tidal Investments LLC purchased a new position in Perion Network during the first quarter worth about $851,000. Cetera Advisors LLC acquired a new stake in Perion Network in the 1st quarter worth about $394,000. Finally, SG Americas Securities LLC purchased a new stake in Perion Network in the 2nd quarter valued at about $225,000. Institutional investors and hedge funds own 68.12% of the company's stock.
Perion Network Price Performance
PERI stock traded up $0.47 during midday trading on Monday, reaching $9.09. 427,673 shares of the company's stock traded hands, compared to its average volume of 649,133. Perion Network Ltd. has a fifty-two week low of $7.47 and a fifty-two week high of $32.99. The business has a 50-day moving average price of $8.24 and a two-hundred day moving average price of $8.82. The company has a market capitalization of $430.05 million, a P/E ratio of 9.63, a PEG ratio of 0.44 and a beta of 1.47.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on PERI shares. Stifel Nicolaus decreased their target price on shares of Perion Network from $9.00 to $7.50 and set a "hold" rating on the stock in a research report on Monday, October 14th. Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.13.
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About Perion Network
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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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