Perion Network Sees Unusually High Options Volume (NASDAQ:PERI)

Perion Network Ltd. (NASDAQ:PERI) was the target of some unusual options trading on Wednesday. Investors bought 4,065 put options on the company. This is an increase of approximately 813% compared to the average daily volume of 445 put options.

Perion Network Trading Down 14.7 %

Shares of PERI traded down $1.44 during mid-day trading on Wednesday, reaching $8.32. The company had a trading volume of 1,354,655 shares, compared to its average volume of 357,262. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $24.50. The firm has a fifty day simple moving average of $8.90 and a 200-day simple moving average of $8.55. The stock has a market cap of $372.76 million, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 0.87 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last issued its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Perion Network had a net margin of 7.81% and a return on equity of 10.93%. As a group, equities analysts predict that Perion Network will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.13.

Institutional Trading of Perion Network

A number of institutional investors have recently modified their holdings of the company. Tidal Investments LLC raised its holdings in Perion Network by 4.6% in the third quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock valued at $397,000 after buying an additional 2,225 shares during the period. Perkins Capital Management Inc. raised its stake in shares of Perion Network by 4.2% in the 4th quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company’s stock valued at $470,000 after acquiring an additional 2,240 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Perion Network by 2.2% during the 4th quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company’s stock valued at $988,000 after acquiring an additional 2,500 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in Perion Network by 8.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company’s stock worth $294,000 after purchasing an additional 2,711 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Perion Network in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

About Perion Network

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.