Investors Buy Large Volume of Perion Network Put Options (NASDAQ:PERI)

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

Perion Network Stock Down 14.7 %

Shares of Perion Network stock traded down $1.44 on Wednesday, hitting $8.32. The company’s stock had a trading volume of 1,354,655 shares, compared to its average volume of 357,262. The company has a market capitalization of $372.76 million, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.87 and a beta of 1.48. Perion Network has a 52-week low of $7.47 and a 52-week high of $24.50. The firm has a fifty day moving average price of $8.90 and a 200-day moving average price of $8.55.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) 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%. As a group, analysts expect that Perion Network will post 0.87 earnings per share for the current year.

Institutional Investors Weigh In On Perion Network

Large investors have recently bought and sold shares of the stock. Private Capital Management LLC lifted its position in shares of Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after acquiring an additional 598,228 shares in the last quarter. Systematic Financial Management LP lifted its holdings in Perion Network by 38.3% in the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after purchasing an additional 179,557 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Perion Network by 10.3% in the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock valued at $3,346,000 after purchasing an additional 36,624 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Perion Network by 39.5% during 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 in the last quarter. Finally, Clearline Capital LP raised its position in shares of Perion Network by 20.5% in the fourth quarter. Clearline Capital LP now owns 339,705 shares of the technology company’s stock valued at $2,877,000 after buying an additional 57,880 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Perion Network presently has an average rating of “Hold” and a consensus target price of $12.13.

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.