Clearline Capital LP Purchases 57,880 Shares of Perion Network Ltd. (NASDAQ:PERI)

Clearline Capital LP lifted its position in Perion Network Ltd. (NASDAQ:PERI) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 339,705 shares of the technology company’s stock after purchasing an additional 57,880 shares during the period. Clearline Capital LP owned about 0.70% of Perion Network worth $2,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of Perion Network in the fourth quarter valued at about $489,000. Y.D. More Investments Ltd lifted its stake in Perion Network by 10.3% during the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock worth $3,346,000 after acquiring an additional 36,624 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Perion Network by 39.5% in 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 last quarter. Private Capital Management LLC grew its position in shares of Perion Network by 33.4% in the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after buying an additional 598,228 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Perion Network in the fourth quarter valued at approximately $755,000. Institutional investors own 68.12% of the company’s stock.

Analyst Upgrades and Downgrades

PERI has been the topic of a number of research reports. 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. StockNews.com raised Perion Network from a “sell” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

Perion Network Price Performance

Perion Network stock opened at $9.22 on Thursday. The firm has a market capitalization of $413.38 million, a P/E ratio of 35.47, a P/E/G ratio of 0.76 and a beta of 1.47. The stock has a fifty day moving average price of $8.41 and a two-hundred day moving average price of $8.62. Perion Network Ltd. has a 52-week low of $7.00 and a 52-week high of $13.49.

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 analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. On average, equities research analysts predict that Perion Network Ltd. will post 0.51 EPS 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.