Naples Money Management LLC Makes New Investment in Perion Network Ltd. (NASDAQ:PERI)

Naples Money Management LLC bought a new stake in Perion Network Ltd. (NASDAQ:PERI) during the fourth quarter, HoldingsChannel.com reports. The firm bought 955 shares of the technology company’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. increased its position in Perion Network by 46.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,972,744 shares of the technology company’s stock worth $91,055,000 after purchasing an additional 945,194 shares in the last quarter. Meitav Investment House Ltd. increased its holdings in shares of Perion Network by 62.7% during the third quarter. Meitav Investment House Ltd. now owns 998,854 shares of the technology company’s stock worth $30,644,000 after buying an additional 385,010 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Perion Network by 718.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 425,102 shares of the technology company’s stock valued at $16,780,000 after acquiring an additional 373,145 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Perion Network by 1,472.8% during the 4th quarter. Millennium Management LLC now owns 367,338 shares of the technology company’s stock valued at $9,294,000 after acquiring an additional 343,982 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Perion Network by 14.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company’s stock valued at $81,199,000 after acquiring an additional 330,000 shares in the last quarter. Institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

Shares of PERI stock opened at $10.98 on Friday. The stock has a market capitalization of $526.93 million, a PE ratio of 4.69, a PEG ratio of 0.35 and a beta of 1.24. The business’s 50 day simple moving average is $20.45 and its 200 day simple moving average is $25.73. Perion Network Ltd. has a one year low of $10.91 and a one year high of $38.78.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. The firm had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. During the same quarter in the previous year, the company earned $0.84 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts expect that Perion Network Ltd. will post 1.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Roth Mkm reiterated a “neutral” rating and issued a $13.00 target price (down from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. Needham & Company LLC lowered their price objective on Perion Network from $35.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Lake Street Capital reiterated a “hold” rating and set a $16.00 target price on shares of Perion Network in a research report on Monday, April 8th. Roth Capital cut shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Finally, StockNews.com downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.80.

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.