Perritt Capital Management Inc Makes New Investment in Perion Network Ltd. (NASDAQ:PERI)

Perritt Capital Management Inc bought a new stake in Perion Network Ltd. (NASDAQ:PERI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,000 shares of the technology company’s stock, valued at approximately $127,000.

Other large investors also recently made changes to their positions in the company. Private Capital Management LLC grew its position in Perion Network by 33.4% during the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after purchasing an additional 598,228 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Perion Network by 10.3% during the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock valued at $3,346,000 after acquiring an additional 36,624 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Perion Network by 39.5% in the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after acquiring an additional 107,278 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Perion Network by 55.4% during the third quarter. Captrust Financial Advisors now owns 103,765 shares of the technology company’s stock worth $818,000 after acquiring an additional 37,005 shares in the last quarter. Finally, Petrus Trust Company LTA boosted its position in Perion Network by 363.0% during the third quarter. Petrus Trust Company LTA now owns 100,324 shares of the technology company’s stock valued at $791,000 after purchasing an additional 78,656 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Stock Performance

PERI opened at $8.23 on Wednesday. The firm has a market cap of $368.91 million, a P/E ratio of 31.66, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53. The business has a 50 day moving average price of $8.72 and a 200 day moving average price of $8.53. Perion Network Ltd. has a twelve month low of $7.47 and a twelve month high of $22.03.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data 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 return on equity of 5.55% and a net margin of 2.53%. The firm had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. As a group, analysts anticipate that Perion Network Ltd. will post 0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

PERI has been the topic of several research reports. StockNews.com raised Perion Network from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $10.50 target price (down from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Perion Network currently has a consensus rating of “Hold” and an average price target of $12.25.

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.