55,970 Shares in Perion Network Ltd. (NASDAQ:PERI) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new position in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 55,970 shares of the technology company's stock, valued at approximately $489,000. Sanctuary Advisors LLC owned 0.12% of Perion Network as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its position in Perion Network by 24.2% during the 3rd 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 during the period. Equitable Trust Co. boosted its stake in shares of Perion Network by 19.1% in the third 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 grew its holdings in Perion Network by 436.2% during the third quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company's stock worth $603,000 after acquiring an additional 62,204 shares during the period. Captrust Financial Advisors lifted its holdings in Perion Network by 55.4% in the third quarter. Captrust Financial Advisors now owns 103,765 shares of the technology company's stock valued at $818,000 after acquiring an additional 37,005 shares during the period. Finally, PDT Partners LLC lifted its holdings in Perion Network by 58.8% in the third quarter. PDT Partners LLC now owns 175,345 shares of the technology company's stock valued at $1,382,000 after acquiring an additional 64,936 shares during the period. 68.12% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

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

Perion Network Stock Performance

PERI stock traded down $0.11 during trading on Thursday, hitting $8.19. The stock had a trading volume of 123,566 shares, compared to its average volume of 425,795. The stock has a market cap of $367.16 million, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. The company's 50 day moving average price is $8.88 and its two-hundred day moving average price is $8.55. Perion Network Ltd. has a 1-year low of $7.47 and a 1-year high of $23.08.

Perion Network (NASDAQ:PERI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The firm had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. As a group, sell-side analysts forecast that Perion Network Ltd. will post 0.51 earnings per share for the current fiscal 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.