Millennium Management LLC Trims Holdings in Perion Network Ltd. (NASDAQ:PERI)

Millennium Management LLC cut its holdings in Perion Network Ltd. (NASDAQ:PERI) by 35.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,382 shares of the technology company’s stock after selling 24,407 shares during the quarter. Millennium Management LLC owned approximately 0.09% of Perion Network worth $376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PERI. Sanctuary Advisors LLC purchased a new stake in Perion Network during the 4th quarter valued at about $489,000. New York State Common Retirement Fund grew its position in Perion Network by 23.2% during the 4th quarter. New York State Common Retirement Fund now owns 82,480 shares of the technology company’s stock valued at $699,000 after purchasing an additional 15,509 shares during the last quarter. Private Capital Management LLC grew its position in Perion Network by 33.4% during the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after purchasing an additional 598,228 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Perion Network during the 4th quarter valued at about $45,000. Finally, Fox Run Management L.L.C. lifted its stake in Perion Network by 146.0% during the 4th quarter. Fox Run Management L.L.C. now owns 36,712 shares of the technology company’s stock valued at $311,000 after acquiring an additional 21,790 shares during the period. 68.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PERI has been the topic of several research analyst reports. Lake Street Capital upped their target price on shares of Perion Network from $10.50 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Roth Capital set a $14.00 target price on shares of Perion Network in a research note on Wednesday, May 14th. Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.00 to $14.00 in a research note on Wednesday, May 14th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Perion Network from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Perion Network has a consensus rating of “Hold” and an average price target of $12.13.

Perion Network Trading Up 1.4%

NASDAQ PERI opened at $10.40 on Tuesday. Perion Network Ltd. has a 12 month low of $7.00 and a 12 month high of $11.79. The stock has a market cap of $466.18 million, a price-to-earnings ratio of 40.00, a PEG ratio of 0.76 and a beta of 1.47. The company’s 50 day moving average is $9.46 and its two-hundred day moving average is $8.97.

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.