Perion Network Ltd. (NASDAQ:PERI) Short Interest Down 20.4% in December

Perion Network Ltd. (NASDAQ:PERI - Get Free Report) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 604,800 shares, a drop of 20.4% from the November 30th total of 759,800 shares. Based on an average daily volume of 306,200 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On Perion Network

Several large investors have recently added to or reduced their stakes in PERI. Acadian Asset Management LLC raised its holdings in shares of Perion Network by 43.5% during the second quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company's stock worth $14,367,000 after purchasing an additional 522,424 shares during the period. Renaissance Technologies LLC grew its position in shares of Perion Network by 4.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company's stock valued at $11,136,000 after buying an additional 55,745 shares during the last quarter. JPMorgan Chase & Co. raised its stake in 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. Clearline Capital LP bought a new position in Perion Network in the third quarter worth about $2,221,000. Finally, Y.D. More Investments Ltd lifted its holdings in Perion Network by 580.4% in the second quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company's stock worth $2,191,000 after acquiring an additional 225,520 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PERI has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their target price on 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 reaffirmed a "hold" rating on shares of Perion Network in a report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $12.13.

Perion Network Stock Up 1.0 %

Shares of PERI traded up $0.08 during mid-day trading on Friday, hitting $8.45. The stock had a trading volume of 417,797 shares, compared to its average volume of 624,785. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $31.60. The company has a market cap of $399.74 million, a PE ratio of 9.09, a PEG ratio of 0.45 and a beta of 1.47. The company's fifty day simple moving average is $8.55 and its two-hundred day simple moving average is $8.42.

About Perion Network

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.