Van ECK Associates Corp boosted its position in Perion Network Ltd. (NASDAQ:PERI) by 55.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,430 shares of the technology company’s stock after purchasing an additional 3,708 shares during the quarter. Van ECK Associates Corp’s holdings in Perion Network were worth $223,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PERI. Renaissance Technologies LLC increased its holdings in shares of Perion Network by 1.4% during the first quarter. Renaissance Technologies LLC now owns 2,033,373 shares of the technology company’s stock valued at $36,397,000 after acquiring an additional 28,000 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in shares of Perion Network during the first quarter valued at $18,148,000. Federated Hermes Inc. bought a new position in shares of Perion Network during the first quarter valued at $15,897,000. Ophir Asset Management Pty Ltd bought a new position in shares of Perion Network during the second quarter valued at $14,380,000. Finally, ARK Investment Management LLC increased its holdings in shares of Perion Network by 107.3% during the first quarter. ARK Investment Management LLC now owns 451,724 shares of the technology company’s stock valued at $8,086,000 after acquiring an additional 233,818 shares in the last quarter. Institutional investors and hedge funds own 40.85% of the company’s stock.
Several equities analysts have recently weighed in on the company. Roth Capital raised their price target on Perion Network from $34.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, June 29th. Stifel Nicolaus increased their price objective on Perion Network from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Monday, June 28th. Needham & Company LLC increased their price objective on Perion Network from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 1st. Lake Street Capital increased their price objective on Perion Network from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 3rd. Finally, Zacks Investment Research cut Perion Network from a “buy” rating to a “hold” rating in a research report on Thursday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Perion Network has a consensus rating of “Buy” and a consensus target price of $22.71.
Perion Network (NASDAQ:PERI) last announced its earnings results on Tuesday, August 3rd. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $109.68 million for the quarter, compared to analysts’ expectations of $105.01 million. Perion Network had a return on equity of 9.92% and a net margin of 5.36%. As a group, equities analysts forecast that Perion Network Ltd. will post 0.66 earnings per share for the current year.
Perion Network 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.
Read More: Death Cross
Want to see what other hedge funds are holding PERI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perion Network Ltd. (NASDAQ:PERI).
Receive News & Ratings for Perion Network Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perion Network and related companies with MarketBeat.com's FREE daily email newsletter.