Public Employees Retirement System of Ohio Acquires New Position in Perion Network Ltd. (NASDAQ:PERI)

Public Employees Retirement System of Ohio bought a new position in shares of Perion Network Ltd. (NASDAQ:PERI) in the third quarter, Holdings Channel reports. The firm bought 83,234 shares of the technology company’s stock, valued at approximately $658,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in shares of Perion Network during the third quarter worth $150,000. Petrus Trust Company LTA grew its position in shares of Perion Network by 363.0% during the 3rd quarter. Petrus Trust Company LTA now owns 100,324 shares of the technology company’s stock worth $791,000 after buying an additional 78,656 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Perion Network in the 3rd quarter valued at about $134,000. Clearline Capital LP bought a new position in Perion Network during the 3rd quarter worth approximately $2,221,000. Finally, PDT Partners LLC boosted its stake in Perion Network by 58.8% during the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock worth $1,382,000 after acquiring an additional 64,936 shares during the last quarter. Institutional investors own 68.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PERI shares. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a report on Thursday, November 7th. Stifel Nicolaus dropped their price objective on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.13.

Perion Network Stock Up 0.4 %

Perion Network stock opened at $8.21 on Friday. The company has a 50 day moving average of $8.50 and a 200-day moving average of $8.56. Perion Network Ltd. has a twelve month low of $7.47 and a twelve month high of $31.60. The stock has a market capitalization of $388.39 million, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.47 and a beta of 1.47.

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.