Phoenix Financial Ltd. Has $15.35 Million Position in Perion Network Ltd $PERI

Phoenix Financial Ltd. cut its position in Perion Network Ltd (NASDAQ:PERI) by 33.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,512,231 shares of the technology company’s stock after selling 767,149 shares during the quarter. Phoenix Financial Ltd. owned about 3.37% of Perion Network worth $15,349,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Value Base Ltd. bought a new stake in shares of Perion Network in the first quarter valued at about $18,799,000. GHP Investment Advisors Inc. raised its stake in Perion Network by 98.3% in the 1st quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company’s stock worth $554,000 after purchasing an additional 33,765 shares in the last quarter. Murchinson Ltd. bought a new stake in Perion Network in the 1st quarter valued at about $2,274,000. Goldman Sachs Group Inc. grew its position in shares of Perion Network by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company’s stock worth $2,798,000 after purchasing an additional 64,442 shares in the last quarter. Finally, PDT Partners LLC grew its position in shares of Perion Network by 23.9% during the 1st quarter. PDT Partners LLC now owns 142,640 shares of the technology company’s stock worth $1,161,000 after purchasing an additional 27,543 shares in the last quarter. Institutional investors own 68.12% of the company’s stock.

Perion Network Trading Up 3.1%

NASDAQ:PERI opened at $9.74 on Tuesday. The firm has a fifty day simple moving average of $9.40 and a two-hundred day simple moving average of $9.79. The stock has a market capitalization of $436.64 million, a price-to-earnings ratio of -81.17, a PEG ratio of 0.83 and a beta of 1.54. Perion Network Ltd has a 12 month low of $6.99 and a 12 month high of $11.79.

Wall Street Analyst Weigh In

PERI has been the subject of several recent research reports. Wall Street Zen upgraded Perion Network from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Craig Hallum set a $14.00 price target on shares of Perion Network and gave the company a “buy” rating in a report on Monday, October 13th. Lake Street Capital upped their target price on Perion Network from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Perion Network in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Perion Network 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.