Y.D. More Investments Ltd Sells 346,149 Shares of Perion Network Ltd $PERI

Y.D. More Investments Ltd reduced its holdings in shares of Perion Network Ltd (NASDAQ:PERI) by 93.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,565 shares of the technology company’s stock after selling 346,149 shares during the period. Y.D. More Investments Ltd owned about 0.05% of Perion Network worth $230,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Equitable Trust Co. grew its stake in shares of Perion Network by 34.0% in the 1st quarter. Equitable Trust Co. now owns 87,900 shares of the technology company’s stock valued at $716,000 after purchasing an additional 22,280 shares during the period. Phoenix Financial Ltd. grew its position in Perion Network by 2.5% in the first quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company’s stock valued at $18,554,000 after acquiring an additional 54,909 shares during the period. LPL Financial LLC grew its position in Perion Network by 2.8% in the first quarter. LPL Financial LLC now owns 243,563 shares of the technology company’s stock valued at $1,983,000 after acquiring an additional 6,649 shares during the period. Value Base Ltd. bought a new position in shares of Perion Network during the first quarter valued at $18,799,000. Finally, Jump Financial LLC boosted its stake in shares of Perion Network by 31.5% in the 1st quarter. Jump Financial LLC now owns 58,709 shares of the technology company’s stock valued at $478,000 after purchasing an additional 14,050 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Stock Down 2.7%

NASDAQ PERI traded down $0.27 during trading hours on Monday, hitting $9.83. The company’s stock had a trading volume of 120,056 shares, compared to its average volume of 387,170. Perion Network Ltd has a twelve month low of $6.99 and a twelve month high of $11.79. The firm has a market capitalization of $440.45 million, a P/E ratio of -82.10, a PEG ratio of 0.83 and a beta of 1.55. The stock has a fifty day moving average of $9.52 and a 200 day moving average of $9.95.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Lake Street Capital increased their target price on shares of Perion Network from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday. Wall Street Zen raised shares of Perion Network from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Perion Network in a report on Wednesday, October 8th. Craig Hallum set a $14.00 price target on Perion Network and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Roth Capital reiterated a “buy” rating and issued a $14.50 price objective (up previously from $14.00) on shares of Perion Network in a research report on Thursday. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.38.

Perion Network 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.