Perion Network Ltd. (NASDAQ:PERI) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP decreased its position in shares of Perion Network Ltd. (NASDAQ:PERI) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,808 shares of the technology company’s stock after selling 45,635 shares during the period. Invenomic Capital Management LP owned about 0.61% of Perion Network worth $2,505,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in Perion Network in the 4th quarter valued at about $41,000. SBI Securities Co. Ltd. acquired a new stake in Perion Network in the 4th quarter valued at about $45,000. Perritt Capital Management Inc acquired a new stake in Perion Network in the 4th quarter valued at about $127,000. Orion Portfolio Solutions LLC raised its position in Perion Network by 8.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company’s stock valued at $294,000 after purchasing an additional 2,711 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its position in shares of Perion Network by 146.0% during the 4th quarter. Fox Run Management L.L.C. now owns 36,712 shares of the technology company’s stock worth $311,000 after acquiring an additional 21,790 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Stock Performance

Shares of PERI stock opened at $9.66 on Monday. The stock has a fifty day moving average price of $8.47 and a 200 day moving average price of $8.66. The stock has a market cap of $433.01 million, a PE ratio of 37.16, a P/E/G ratio of 0.76 and a beta of 1.47. Perion Network Ltd. has a 1 year low of $7.00 and a 1 year high of $12.74.

Perion Network (NASDAQ:PERI) last released its quarterly earnings results 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 company had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. As a group, equities research analysts predict that Perion Network Ltd. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PERI shares. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Thursday, April 17th. Lake Street Capital restated a “buy” rating and set a $10.50 price target (down previously from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. Finally, StockNews.com upgraded Perion Network from a “sell” rating to a “hold” rating in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.00.

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.