R Squared Ltd Takes $116,000 Position in Perion Network Ltd $PERI

R Squared Ltd bought a new position in shares of Perion Network Ltd (NASDAQ:PERI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,469 shares of the technology company’s stock, valued at approximately $116,000.

Several other institutional investors have also recently added to or reduced their stakes in PERI. Value Base Ltd. purchased a new stake in Perion Network during the first quarter worth approximately $18,799,000. Murchinson Ltd. purchased a new stake in Perion Network during the first quarter worth approximately $2,274,000. Systematic Financial Management LP lifted its stake in Perion Network by 10.0% during the first quarter. Systematic Financial Management LP now owns 713,177 shares of the technology company’s stock worth $5,805,000 after purchasing an additional 65,092 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Perion Network by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company’s stock worth $2,798,000 after purchasing an additional 64,442 shares during the last quarter. Finally, Phoenix Financial Ltd. lifted its stake in Perion Network by 2.5% during the first quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company’s stock worth $18,554,000 after purchasing an additional 54,909 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Lake Street Capital boosted their target price on Perion Network from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, July 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Perion Network in a research note on Saturday. Craig Hallum set a $14.00 target price on Perion Network and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Wall Street Zen raised Perion Network from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.00.

Perion Network Stock Up 2.4%

PERI opened at $9.71 on Monday. The firm has a market cap of $435.30 million, a price-to-earnings ratio of -80.92, a price-to-earnings-growth ratio of 0.86 and a beta of 1.54. Perion Network Ltd has a 52 week low of $6.99 and a 52 week high of $11.79. The business’s 50 day moving average is $9.44 and its two-hundred day moving average is $9.85.

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.