Systematic Financial Management LP Grows Position in Perion Network Ltd. (NASDAQ:PERI)

Systematic Financial Management LP increased its position in Perion Network Ltd. (NASDAQ:PERI) by 38.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 648,085 shares of the technology company’s stock after purchasing an additional 179,557 shares during the quarter. Systematic Financial Management LP owned approximately 1.33% of Perion Network worth $5,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Private Capital Management LLC lifted its stake 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 purchasing an additional 598,228 shares during the period. Y.D. More Investments Ltd lifted its stake in shares of Perion Network by 10.3% in the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock valued at $3,346,000 after purchasing an additional 36,624 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after purchasing an additional 107,278 shares during the period. Clearline Capital LP lifted its stake in shares of Perion Network by 20.5% in the 4th quarter. Clearline Capital LP now owns 339,705 shares of the technology company’s stock valued at $2,877,000 after purchasing an additional 57,880 shares during the period. Finally, Man Group plc lifted its stake in shares of Perion Network by 11.6% in the 4th quarter. Man Group plc now owns 215,027 shares of the technology company’s stock valued at $1,821,000 after purchasing an additional 22,274 shares during the period. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PERI. Roth Capital set a $14.00 target price on Perion Network in a research note on Wednesday. Roth Mkm upgraded Perion Network from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.00 to $14.00 in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Wednesday. Lake Street Capital lifted their price objective on Perion Network from $10.50 to $13.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com cut Perion Network from a “hold” rating to a “sell” rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.13.

Perion Network Trading Down 0.8%

Perion Network stock opened at $10.72 on Friday. The firm has a market cap of $480.52 million, a price-to-earnings ratio of 41.23, a PEG ratio of 0.76 and a beta of 1.47. The stock has a fifty day simple moving average of $8.71 and a two-hundred day simple moving average of $8.74. Perion Network Ltd. has a 12 month low of $7.00 and a 12 month high of $12.74.

Perion Network (NASDAQ:PERI) last posted its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $129.58 million during 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 forecast 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.