Clearline Capital LP Purchases Shares of 281,825 Perion Network Ltd. (NASDAQ:PERI)

Clearline Capital LP acquired a new stake in shares of Perion Network Ltd. (NASDAQ:PERI) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 281,825 shares of the technology company’s stock, valued at approximately $2,221,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Van ECK Associates Corp grew its holdings in shares of Perion Network by 9.7% during the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock valued at $138,000 after purchasing an additional 1,468 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Perion Network by 17.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock worth $128,000 after buying an additional 2,299 shares during the period. Sei Investments Co. lifted its stake in shares of Perion Network by 9.4% in the 2nd quarter. Sei Investments Co. now owns 59,343 shares of the technology company’s stock valued at $496,000 after acquiring an additional 5,078 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Perion Network during the 1st quarter valued at about $204,000. Finally, BigSur Wealth Management LLC bought a new position in Perion Network during the 2nd quarter worth approximately $84,000. 68.12% of the stock is currently owned by institutional investors.

Perion Network Stock Performance

PERI opened at $8.62 on Monday. The stock’s 50 day moving average price is $8.24 and its 200-day moving average price is $8.85. Perion Network Ltd. has a 52-week low of $7.47 and a 52-week high of $32.99. The stock has a market capitalization of $407.81 million, a PE ratio of 9.27, a price-to-earnings-growth ratio of 0.44 and a beta of 1.47.

Analyst Ratings Changes

A number of analysts have recently weighed in on PERI shares. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th. Stifel Nicolaus dropped their price target on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.13.

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.