Posted by ABMN Staff on Apr 15th, 2024
Stratos Wealth Partners LTD. cut its position in Perion Network Ltd. (NASDAQ:PERI – Free Report) by 55.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,503 shares of the technology company’s stock after selling 14,301 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Perion Network were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in PERI. Raymond James & Associates boosted its stake in shares of Perion Network by 5.4% in the first quarter. Raymond James & Associates now owns 90,247 shares of the technology company’s stock valued at $2,030,000 after purchasing an additional 4,663 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Perion Network during the 1st quarter valued at $339,000. Cambridge Investment Research Advisors Inc. boosted its stake in Perion Network by 5.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,531 shares of the technology company’s stock valued at $327,000 after acquiring an additional 778 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Perion Network by 30.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,329 shares of the technology company’s stock valued at $1,064,000 after acquiring an additional 11,151 shares during the last quarter. Finally, Sei Investments Co. bought a new position in Perion Network during the 1st quarter valued at $302,000. 68.12% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have commented on PERI shares. Lake Street Capital reiterated a “hold” rating and set a $16.00 price objective on shares of Perion Network in a research note on Monday, April 8th. Roth Mkm reiterated a “neutral” rating and set a $13.00 price objective (down from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Roth Capital downgraded shares of Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th. Needham & Company LLC reduced their price objective on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Finally, StockNews.com downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Perion Network presently has an average rating of “Hold” and an average target price of $25.80.
Read Our Latest Analysis on PERI
Perion Network Stock Down 1.2 %
PERI stock opened at $12.58 on Monday. The stock has a market cap of $603.73 million, a PE ratio of 5.38, a price-to-earnings-growth ratio of 0.40 and a beta of 1.24. The firm’s 50-day simple moving average is $21.91 and its 200 day simple moving average is $26.34. Perion Network Ltd. has a fifty-two week low of $12.10 and a fifty-two week high of $42.75.
Perion Network (NASDAQ:PERI – Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The firm had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. Perion Network’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.84 EPS. Equities analysts forecast that Perion Network Ltd. will post 1.45 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 provides 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.
Read More
- Five stocks we like better than Perion Network
- What is Short Interest? How to Use It
- 5 Trends You Need to Know This Quarter
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- MarketBeat Week in Review – 4/8 – 4/12
- What Investors Need to Know About Upcoming IPOs
- You Can Follow BlackRock’s Market View for Your Money
Want to see what other hedge funds are holding PERI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perion Network Ltd. (NASDAQ:PERI – Free Report).
Receive News & Ratings for Perion Network Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perion Network and related companies with MarketBeat.com's FREE daily email newsletter.
You might be interested in:
Sapient Capital LLC Invests $220,000 in Williams-Sonoma, Inc.
Sequoia Financial Advisors LLC Invests $668,000 in Expeditors International of Washington, Inc.
Rockwell Automation, Inc. Shares Purchased by Cerity Partners LLC
Tobam Purchases 1,510 Shares of Alphabet Inc.
Narus Financial Partners LLC Has $1.57 Million Position in NVIDIA Co.
