Short Interest in Perion Network Ltd. (NASDAQ:PERI) Grows By 48.9%

Perion Network Ltd. (NASDAQ:PERI) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 943,400 shares, an increase of 48.9% from the February 13th total of 633,400 shares. Based on an average daily trading volume, of 394,500 shares, the short-interest ratio is currently 2.4 days. Approximately 2.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Private Capital Management LLC raised its holdings in shares of Perion Network by 33.4% in the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock worth $18,816,000 after purchasing an additional 598,228 shares during the period. Systematic Financial Management LP lifted its position in shares of Perion Network by 38.3% during the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after buying an additional 179,557 shares during the last quarter. Y.D. More Investments Ltd grew its stake in shares of Perion Network by 10.3% during the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock worth $3,346,000 after acquiring an additional 36,624 shares during the period. JPMorgan Chase & Co. increased its holdings in Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after acquiring an additional 107,278 shares during the last quarter. Finally, Clearline Capital LP raised its stake in Perion Network by 20.5% in the 4th quarter. Clearline Capital LP now owns 339,705 shares of the technology company’s stock valued at $2,877,000 after acquiring an additional 57,880 shares during the period. 68.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research note on Thursday, February 20th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $10.50 target price (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.25.

Perion Network Trading Up 4.3 %

Shares of PERI traded up $0.36 on Friday, reaching $8.75. 394,718 shares of the company’s stock traded hands, compared to its average volume of 440,339. The stock’s 50 day simple moving average is $8.86 and its two-hundred day simple moving average is $8.53. The stock has a market cap of $392.22 million, a PE ratio of 33.66, a PEG ratio of 0.76 and a beta of 1.53. Perion Network has a 52-week low of $7.47 and a 52-week high of $23.03.

Perion Network (NASDAQ:PERI) last released its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. Analysts forecast that Perion Network will post 0.51 earnings per share for the current year.

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.