Private Capital Management LLC Increases Position in Perion Network Ltd. (NASDAQ:PERI)

Private Capital Management LLC increased its position in Perion Network Ltd. (NASDAQ:PERI - Free Report) by 33.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,387,800 shares of the technology company's stock after buying an additional 598,228 shares during the period. Perion Network comprises approximately 3.8% of Private Capital Management LLC's holdings, making the stock its 17th largest position. Private Capital Management LLC owned 4.96% of Perion Network worth $18,816,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. ARK Investment Management LLC grew its position in shares of Perion Network by 24.2% during the third quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company's stock worth $1,880,000 after purchasing an additional 46,542 shares in the last quarter. Equitable Trust Co. grew its holdings in Perion Network by 19.1% during the 3rd quarter. Equitable Trust Co. now owns 65,770 shares of the technology company's stock valued at $518,000 after buying an additional 10,535 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Perion Network by 436.2% during the third quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company's stock valued at $603,000 after buying an additional 62,204 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Perion Network by 55.4% in the third quarter. Captrust Financial Advisors now owns 103,765 shares of the technology company's stock worth $818,000 after buying an additional 37,005 shares in the last quarter. Finally, PDT Partners LLC boosted its position in shares of Perion Network by 58.8% during the third quarter. PDT Partners LLC now owns 175,345 shares of the technology company's stock worth $1,382,000 after acquiring an additional 64,936 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company's stock.

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Analyst Ratings Changes

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

Perion Network Trading Up 0.5 %

Shares of NASDAQ:PERI traded up $0.04 during trading on Tuesday, reaching $8.01. The company's stock had a trading volume of 421,735 shares, compared to its average volume of 432,475. The stock has a market capitalization of $359.14 million, a PE ratio of 30.82, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. Perion Network Ltd. has a 12 month low of $7.47 and a 12 month high of $23.08. The firm's 50 day simple moving average is $8.89 and its two-hundred day simple moving average is $8.56.

Perion Network (NASDAQ:PERI - Get Free Report) last announced its 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). The company had revenue of $129.58 million during the quarter, compared to analysts' expectations of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. Research analysts anticipate that Perion Network Ltd. will post 0.51 EPS for the current fiscal year.

Perion Network 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.