Hsbc Holdings PLC Makes New $157,000 Investment in Perion Network Ltd. (NASDAQ:PERI)

Hsbc Holdings PLC bought a new position in shares of Perion Network Ltd. (NASDAQ:PERI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,620 shares of the technology company’s stock, valued at approximately $157,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PERI. Harel Insurance Investments & Financial Services Ltd. lifted its position in Perion Network by 18.8% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock worth $88,657,000 after acquiring an additional 624,441 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Perion Network by 43.5% during the second quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock worth $14,367,000 after purchasing an additional 522,424 shares during the period. Vanguard Group Inc. grew its position in Perion Network by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock valued at $33,387,000 after buying an additional 35,476 shares during the last quarter. Renaissance Technologies LLC increased its stake in Perion Network by 4.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock valued at $11,136,000 after buying an additional 55,745 shares during the period. Finally, Congress Asset Management Co. MA raised its position in Perion Network by 9.0% during the 4th quarter. Congress Asset Management Co. MA now owns 841,948 shares of the technology company’s stock worth $25,991,000 after buying an additional 69,342 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

Shares of NASDAQ:PERI opened at $7.84 on Friday. The firm has a market capitalization of $376.25 million, a price-to-earnings ratio of 3.73, a price-to-earnings-growth ratio of 0.40 and a beta of 1.48. The business’s 50 day simple moving average is $8.29 and its 200-day simple moving average is $10.91. Perion Network Ltd. has a 12 month low of $7.47 and a 12 month high of $32.99.

Perion Network (NASDAQ:PERI) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $108.69 million for the quarter, compared to the consensus estimate of $106.98 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. On average, equities analysts anticipate that Perion Network Ltd. will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PERI. Lake Street Capital raised Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, August 1st. Finally, Oppenheimer cut Perion Network from an “outperform” rating to a “market perform” rating in a research report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.67.

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.