Fox Run Management L.L.C. Has $311,000 Holdings in Perion Network Ltd. (NASDAQ:PERI)

Fox Run Management L.L.C. grew its position in Perion Network Ltd. (NASDAQ:PERI) by 146.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,712 shares of the technology company’s stock after purchasing an additional 21,790 shares during the period. Fox Run Management L.L.C. owned about 0.08% of Perion Network worth $311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Perion Network during the 4th quarter worth about $45,000. Point72 Asset Management L.P. bought a new stake in shares of Perion Network in the 3rd quarter worth approximately $134,000. XTX Topco Ltd acquired a new stake in Perion Network during the third quarter valued at approximately $150,000. Tidal Investments LLC grew its position in Perion Network by 4.6% in the third quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock valued at $397,000 after acquiring an additional 2,225 shares during the period. Finally, Geode Capital Management LLC raised its stake in Perion Network by 67.8% during the third quarter. Geode Capital Management LLC now owns 57,975 shares of the technology company’s stock worth $457,000 after acquiring an additional 23,423 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Wall Street Analyst Weigh In

PERI has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Lake Street Capital restated a “buy” rating and issued a $10.50 price objective (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Finally, StockNews.com upgraded Perion Network from a “sell” rating to a “hold” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.25.

Perion Network Stock Performance

Shares of PERI stock opened at $8.14 on Friday. The firm’s 50 day moving average price is $8.76 and its two-hundred day moving average price is $8.52. Perion Network Ltd. has a 52-week low of $7.47 and a 52-week high of $22.69. The stock has a market cap of $364.88 million, a PE ratio of 31.31, a PEG ratio of 0.76 and a beta of 1.53.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Perion Network had a return on equity of 5.55% and a net margin of 2.53%. The company had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. As a group, sell-side analysts predict that Perion Network Ltd. will post 0.51 earnings per share 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.