Advisory Services Network LLC Has $116,000 Position in Perion Network Ltd. (NASDAQ:PERI)

Advisory Services Network LLC lessened its stake in Perion Network Ltd. (NASDAQ:PERI) by 56.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,700 shares of the technology company’s stock after selling 17,800 shares during the quarter. Advisory Services Network LLC’s holdings in Perion Network were worth $116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PERI. Russell Investments Group Ltd. acquired a new position in shares of Perion Network in the fourth quarter worth $41,000. SBI Securities Co. Ltd. purchased a new position in Perion Network in the fourth quarter valued at about $45,000. Perritt Capital Management Inc acquired a new position in Perion Network in the 4th quarter worth about $127,000. XTX Topco Ltd purchased a new stake in shares of Perion Network during the 3rd quarter worth about $150,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Perion Network by 8.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company’s stock valued at $294,000 after buying an additional 2,711 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PERI shares. Lake Street Capital restated a “buy” rating and issued a $10.50 price objective (down previously from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday. Finally, StockNews.com cut shares of Perion Network from a “hold” rating to a “sell” rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Perion Network Stock Up 2.3 %

Shares of PERI stock opened at $8.88 on Friday. The business’s 50 day moving average is $8.35 and its two-hundred day moving average is $8.52. Perion Network Ltd. has a 12 month low of $7.00 and a 12 month high of $13.49. The company has a market cap of $398.05 million, a PE ratio of 34.16, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35.

Perion Network (NASDAQ:PERI) last announced its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). Perion Network had a return on equity of 5.55% and a net margin of 2.53%. The firm had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. As a group, equities analysts expect that Perion Network Ltd. will post 0.51 EPS for the current fiscal year.

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.