Bank of America Corp DE Cuts Stock Position in Perion Network Ltd. (NASDAQ:PERI)

Bank of America Corp DE lessened its stake in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 36.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 232,151 shares of the technology company's stock after selling 130,801 shares during the quarter. Bank of America Corp DE owned about 0.48% of Perion Network worth $1,966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in shares of Perion Network during the 4th quarter worth $41,000. SBI Securities Co. Ltd. bought a new position in shares of Perion Network during the fourth quarter worth about $45,000. Perritt Capital Management Inc bought a new stake in Perion Network in the fourth quarter valued at approximately $127,000. Orion Portfolio Solutions LLC lifted its holdings in Perion Network by 8.5% in the fourth 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 period. Finally, Fox Run Management L.L.C. grew its position in shares of Perion Network by 146.0% during the 4th quarter. Fox Run Management L.L.C. now owns 36,712 shares of the technology company's stock worth $311,000 after buying an additional 21,790 shares during the period. Institutional investors and hedge funds own 68.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PERI shares. Roth Capital set a $14.00 target price on Perion Network in a research report on Wednesday, May 14th. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a report on Wednesday, May 14th. Lake Street Capital upped their price objective on shares of Perion Network from $10.50 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Wall Street Zen raised Perion Network from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Roth Mkm upgraded Perion Network from a "neutral" rating to a "buy" rating and boosted their target price for the company from $9.00 to $14.00 in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Perion Network has an average rating of "Hold" and a consensus target price of $12.13.

Perion Network Stock Up 0.4%

Shares of PERI stock traded up $0.04 during mid-day trading on Friday, reaching $10.25. 87,141 shares of the company's stock traded hands, compared to its average volume of 484,796. Perion Network Ltd. has a 12 month low of $7.00 and a 12 month high of $12.51. The company has a market cap of $459.46 million, a P/E ratio of 39.41, a P/E/G ratio of 0.76 and a beta of 1.47. The company's 50-day moving average price is $9.38 and its 200-day moving average price is $8.93.

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.