23,551 Shares in Perion Network Ltd (NASDAQ:PERI) Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D bought a new position in Perion Network Ltd (NASDAQ:PERI) in the third quarter, Holdings Channel reports. The institutional investor bought 23,551 shares of the technology company’s stock, valued at approximately $115,000.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN bought a new stake in Perion Network in the 2nd quarter worth approximately $58,000. Seizert Capital Partners LLC bought a new stake in Perion Network in the 2nd quarter worth approximately $316,000. River & Mercantile Asset Management LLP bought a new stake in Perion Network in the 2nd quarter worth approximately $567,000. Finally, Renaissance Technologies LLC lifted its position in Perion Network by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock worth $3,709,000 after buying an additional 66,340 shares during the last quarter. Institutional investors own 12.01% of the company’s stock.

PERI stock traded down $0.18 during midday trading on Tuesday, hitting $5.11. The company had a trading volume of 4,081 shares, compared to its average volume of 254,045. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. Perion Network Ltd has a 52 week low of $2.47 and a 52 week high of $7.06. The stock’s 50 day moving average price is $4.99 and its 200 day moving average price is $4.27. The stock has a market cap of $131.32 million, a price-to-earnings ratio of 16.55, a PEG ratio of 2.20 and a beta of 0.93.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. Perion Network had a return on equity of 7.78% and a net margin of 4.66%. The firm had revenue of $65.78 million during the quarter, compared to the consensus estimate of $65.00 million. Analysts predict that Perion Network Ltd will post 0.39 earnings per share for the current year.

A number of analysts recently weighed in on PERI shares. ValuEngine downgraded Perion Network from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 26th. TheStreet upgraded Perion Network from a “d+” rating to a “c+” rating in a research report on Friday, August 9th. Taglich Brothers restated a “speculative buy” rating on shares of Perion Network in a research report on Friday. Finally, Zacks Investment Research downgraded Perion Network from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Perion Network presently has an average rating of “Hold” and an average target price of $6.13.

Perion Network Company Profile

Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands and publishers through innovative platforms. It is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform.

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Institutional Ownership by Quarter for Perion Network (NASDAQ:PERI)

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