PNC Financial Services Group Inc. Sells 2,000 Shares of Perion Network Ltd $PERI

PNC Financial Services Group Inc. decreased its holdings in Perion Network Ltd (NASDAQ:PERI) by 30.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,600 shares of the technology company’s stock after selling 2,000 shares during the period. PNC Financial Services Group Inc.’s holdings in Perion Network were worth $37,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PERI. Value Base Ltd. bought a new stake in Perion Network in the first quarter valued at approximately $18,799,000. Systematic Financial Management LP raised its stake in Perion Network by 38.3% in the fourth 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 period. Sphera Management Technology Funds Ltd bought a new stake in Perion Network in the fourth quarter valued at approximately $995,000. Clearline Capital LP raised its stake in 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 period. Finally, Phoenix Financial Ltd. increased its stake in shares of 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 period. Institutional investors own 68.12% of the company’s stock.

Wall Street Analyst Weigh In

PERI has been the topic of a number of recent research reports. Roth Capital set a $14.00 target price on Perion Network in a research note on Wednesday, May 14th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Wednesday, May 14th. Lake Street Capital increased 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. Wall Street Zen upgraded Perion Network from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Finally, Roth Mkm upgraded Perion Network from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $14.00 in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.38.

Perion Network Price Performance

Shares of NASDAQ:PERI opened at $9.37 on Friday. The company has a market capitalization of $420.06 million, a P/E ratio of -78.08, a P/E/G ratio of 0.90 and a beta of 1.43. Perion Network Ltd has a 1 year low of $6.99 and a 1 year high of $11.79. The business’s 50 day simple moving average is $10.31 and its 200 day simple moving average is $9.53.

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.