Virtu Financial LLC Buys Shares of 7,139 Perion Network Ltd. (NASDAQ:PERI)

Virtu Financial LLC bought a new stake in Perion Network Ltd. (NASDAQ:PERI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,139 shares of the technology company’s stock, valued at approximately $220,000.

A number of other hedge funds have also recently added to or reduced their stakes in PERI. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Perion Network during the third quarter valued at $2,573,000. 1492 Capital Management LLC grew its holdings in shares of Perion Network by 0.9% during the fourth quarter. 1492 Capital Management LLC now owns 188,185 shares of the technology company’s stock valued at $5,809,000 after buying an additional 1,751 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Perion Network by 75.3% during the fourth quarter. BNP Paribas Financial Markets now owns 142,569 shares of the technology company’s stock valued at $4,401,000 after buying an additional 61,249 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Perion Network by 42.3% during the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock valued at $51,000 after buying an additional 493 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Perion Network by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock worth $43,960,000 after purchasing an additional 26,181 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Stock Down 1.6 %

NASDAQ PERI opened at $8.82 on Friday. The company’s 50 day moving average is $11.44 and its 200-day moving average is $20.59. Perion Network Ltd. has a 12-month low of $8.14 and a 12-month high of $36.86. The firm has a market cap of $423.27 million, a P/E ratio of 4.20, a price-to-earnings-growth ratio of 0.48 and a beta of 1.40.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Perion Network had a net margin of 13.94% and a return on equity of 20.70%. The business had revenue of $157.82 million during the quarter, compared to the consensus estimate of $156.96 million. Equities analysts expect that Perion Network Ltd. will post 0.86 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on PERI. Lake Street Capital cut their price target on shares of Perion Network from $16.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, June 11th. Roth Mkm reaffirmed a “neutral” rating and issued a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. StockNews.com lowered shares of Perion Network from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Needham & Company LLC lowered shares of Perion Network from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Finally, Roth Capital lowered shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.60.

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.