Perion Network Target of Unusually High Options Trading (NASDAQ:PERI)

Perion Network Ltd. (NASDAQ:PERI) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 4,065 put options on the stock. This is an increase of approximately 813% compared to the typical daily volume of 445 put options.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Perion Network currently has a consensus rating of “Hold” and a consensus price target of $12.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Y.D. More Investments Ltd boosted its holdings in shares of Perion Network by 10.3% in the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock worth $3,346,000 after buying an additional 36,624 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Perion Network by 436.2% in the third quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock worth $603,000 after buying an additional 62,204 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 buying an additional 107,278 shares during the period. PDT Partners LLC boosted its holdings in shares of Perion Network by 58.8% in the third quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock worth $1,382,000 after buying an additional 64,936 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Perion Network in the third quarter worth about $658,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Perion Network Trading Down 12.3 %

NASDAQ:PERI opened at $8.55 on Thursday. Perion Network has a twelve month low of $7.47 and a twelve month high of $24.50. The company has a 50-day moving average of $8.89 and a 200-day moving average of $8.55. The firm has a market cap of $383.25 million, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 0.87 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). Perion Network had a net margin of 7.81% and a return on equity of 10.93%. On average, research analysts forecast that Perion Network will post 0.87 earnings per share for the current year.

Perion Network Company Profile

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.