Meitav Investment House Ltd. Sells 103,353 Shares of Perion Network Ltd. (NASDAQ:PERI)

Meitav Investment House Ltd. lessened its position in shares of Perion Network Ltd. (NASDAQ:PERIFree Report) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 858,893 shares of the technology company’s stock after selling 103,353 shares during the quarter. Meitav Investment House Ltd.’s holdings in Perion Network were worth $6,768,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BigSur Wealth Management LLC acquired a new position in shares of Perion Network during the second quarter worth $84,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Perion Network by 17.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock worth $128,000 after acquiring an additional 2,299 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Perion Network by 9.7% during the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock worth $138,000 after acquiring an additional 1,468 shares during the last quarter. Riverwater Partners LLC acquired a new position in shares of Perion Network during the second quarter valued at about $157,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Perion Network in the 2nd quarter valued at approximately $157,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Trading Down 0.7 %

Shares of NASDAQ PERI opened at $8.27 on Thursday. The company has a 50 day simple moving average of $8.13 and a two-hundred day simple moving average of $9.38. The stock has a market cap of $396.89 million, a price-to-earnings ratio of 3.97, a PEG ratio of 0.41 and a beta of 1.48. Perion Network Ltd. has a 12 month low of $7.47 and a 12 month high of $32.99.

Perion Network (NASDAQ:PERIGet Free Report) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $108.69 million during the quarter, compared to the consensus estimate of $106.98 million. Perion Network had a net margin of 11.34% and a return on equity of 15.65%. Analysts forecast that Perion Network Ltd. will post 0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PERI. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Thursday, August 1st. Stifel Nicolaus lowered their price objective on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Monday, October 14th. Finally, Lake Street Capital raised Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Perion Network currently has a consensus rating of “Hold” and an average target price of $12.13.

Read Our Latest Report on Perion Network

Perion Network Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Perion Network (NASDAQ:PERI)

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