State of New Jersey Common Pension Fund D has increased its stake in shares of Perion Network Ltd. (NASDAQ:PERI – Get Rating) by 17.0% in the 1st quarter, reports Holdings Channel. The company held 27,562 shares of the technology company after buying an additional 4,011 shares during the quarter. New Jersey State Joint Pension Fund D’s holdings in Perion Network were worth $620,000 at the end of the last quarter.
Several other hedge funds have also recently changed their positions in the company. Private Capital Management LLC increased its position in Perion Network shares by 4.0% in the fourth quarter. Private Capital Management LLC now owns 1,579,605 shares of the technology company worth $37,990,000 after acquiring an additional 60,453 shares last quarter. Acadian Asset Management LLC increased its position in Perion Network shares by 4.7% in the fourth quarter. Acadian Asset Management LLC now owns 1,417,263 shares of the technology company worth $34,067,000 after acquiring an additional 63,852 shares last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in Perion Network shares by 861.2% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,201,450 shares of the technology company worth $28,895,000 after acquiring an additional 1,076,450 shares in the last quarter. Victory Capital Management Inc. raised its position in Perion Network shares by 25.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,188,836 shares of the technology company worth $28,591,000 after acquiring 237,824 additional shares last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Perion Network in the 4th quarter for a value of approximately $24,772,000. 46.52% of the shares are held by institutional investors.
Wall Street analysts predict growth
PERI has been the subject of several research analyst reports. Raymond James raised its price target on Perion Network from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC launched coverage on Perion Network in a research note on Friday, July 1. They issued a “buy” rating and a target price of $32.00 for the company. Finally, StockNews.com downgraded Perion Network from a “strong buy” rating to a “buy” rating in a Monday, July 11 research rating. Five equity research analysts rated the stock with a buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $33.25.
Perion Network Stock Performance
PERI stock opened at $20.96 on Friday. The company has a market cap of $931.06 million, a P/E ratio of 16.90, a price-to-earnings growth ratio of 0.49, and a beta of 1.24. Perion Network Ltd. has a 52-week low of $16.41 and a 52-week high of $33.09. The company has a 50-day simple moving average of $18.94 and a two-hundred-day simple moving average of $20.60.
Perion Network Company Profile
(Get a rating)
Perion Network Ltd. provides digital advertising solutions to brands, agencies and publishers in North America, Europe and internationally. It provides 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.
Want to see which other hedge funds hold PERI? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Perion Network Ltd. (NASDAQ:PERI – Get Rating).
Get news and reviews for Perion Network Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Perion Network and related companies with MarketBeat.com’s free daily email newsletter.