Clearline Capital LP Invests $2.22 Million in Perion Network Ltd. (NASDAQ:PERI)

Clearline Capital LP purchased a new stake in shares of Perion Network Ltd. (NASDAQ:PERI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 281,825 shares of the technology company’s stock, valued at approximately $2,221,000. Clearline Capital LP owned 0.60% of Perion Network as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in shares of Perion Network by 43.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock valued at $14,367,000 after acquiring an additional 522,424 shares during the period. Vanguard Group Inc. lifted its position in shares of Perion Network by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock valued at $33,387,000 after buying an additional 35,476 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Perion Network by 4.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock worth $11,136,000 after acquiring an additional 55,745 shares during the last quarter. Y.D. More Investments Ltd raised its stake in Perion Network by 580.4% in the 2nd quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock valued at $2,191,000 after acquiring an additional 225,520 shares during the period. Finally, ARK Investment Management LLC boosted its position in Perion Network by 24.2% during the third quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company’s stock worth $1,880,000 after purchasing an additional 46,542 shares during the period. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PERI. Stifel Nicolaus dropped their price target on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.13.

Perion Network Price Performance

Shares of NASDAQ:PERI opened at $8.62 on Monday. The company has a market cap of $407.81 million, a price-to-earnings ratio of 9.27, a PEG ratio of 0.44 and a beta of 1.47. Perion Network Ltd. has a one year low of $7.47 and a one year high of $32.99. The firm has a fifty day moving average price of $8.24 and a two-hundred day moving average price of $8.85.

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.