Perion Network (NASDAQ:PERI) Director Joy Sharon Marcus Sells 1,690 Shares of Company Stock

Perion Network Ltd (NASDAQ:PERI) Director Joy Marcus sold 1,690 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $8.71, for a total value of $14,719.90. Following the completion of the sale, the director directly owned 27,570 shares in the company, valued at approximately $240,134.70. This represents a 5.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Price Performance

Shares of NASDAQ:PERI opened at $8.51 on Tuesday. The business’s fifty day moving average price is $9.28 and its two-hundred day moving average price is $9.42. Perion Network Ltd has a fifty-two week low of $7.63 and a fifty-two week high of $11.27. The stock has a market capitalization of $332.15 million, a price-to-earnings ratio of -24.31, a price-to-earnings-growth ratio of 0.99 and a beta of 1.13.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Tuesday, August 11th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Perion Network had a positive return on equity of 2.43% and a negative net margin of 2.95%.The company had revenue of $98.24 million during the quarter, compared to analysts’ expectations of $96.72 million. Research analysts expect that Perion Network Ltd will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Perion Network

Several large investors have recently made changes to their positions in PERI. Royal Bank of Canada boosted its holdings in Perion Network by 698.9% in the first quarter. Royal Bank of Canada now owns 10,170 shares of the technology company’s stock valued at $102,000 after acquiring an additional 8,897 shares during the last quarter. SG Americas Securities LLC lifted its position in Perion Network by 21.9% during the 1st quarter. SG Americas Securities LLC now owns 12,190 shares of the technology company’s stock valued at $122,000 after purchasing an additional 2,186 shares during the period. Bank of America Corp DE lifted its position in Perion Network by 101.3% during the 1st quarter. Bank of America Corp DE now owns 24,480 shares of the technology company’s stock valued at $245,000 after purchasing an additional 12,317 shares during the period. Headlands Technologies LLC boosted its stake in shares of Perion Network by 282.5% in the 2nd quarter. Headlands Technologies LLC now owns 39,577 shares of the technology company’s stock valued at $384,000 after purchasing an additional 29,231 shares during the last quarter. Finally, Y.D. More Investments Ltd grew its position in shares of Perion Network by 29.6% during the 1st quarter. Y.D. More Investments Ltd now owns 50,002 shares of the technology company’s stock worth $503,000 after buying an additional 11,435 shares during the period. Institutional investors and hedge funds own 68.12% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.88.

Perion Network Company Profile

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company’s businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.