Meitav Investment House Ltd. Sells 124,434 Shares of Perion Network Ltd $PERI

Key Points

• Meitav Investment House Ltd. reduced its holdings in Perion Network Ltd. by 14.5%, selling 124,434 shares during the second quarter and retaining 733,766 shares, which are now valued at approximately $7.4 million.
• Several hedge funds, including Caption Management LLC and GHP Investment Advisors Inc., recently initiated or increased their positions in Perion Network, reflecting ongoing interest from institutional investors.
• Perion Network's stock (NASDAQ: PERI) opened at $9.78 and has a market capitalization of $438.44 million, with analysts mostly rating it as a "Hold," while some have issued "Buy" ratings with an average price target of $12.38.

Meitav Investment House Ltd. cut its position in shares of Perion Network Ltd (NASDAQ:PERI - Free Report) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 733,766 shares of the technology company's stock after selling 124,434 shares during the quarter. Meitav Investment House Ltd. owned about 1.64% of Perion Network worth $7,448,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Caption Management LLC bought a new stake in shares of Perion Network during the first quarter valued at approximately $60,000. NewEdge Advisors LLC bought a new stake in shares of Perion Network during the first quarter valued at approximately $160,000. Jump Financial LLC boosted its position in shares of Perion Network by 31.5% during the first 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. GHP Investment Advisors Inc. boosted its position in shares of Perion Network by 98.3% during the first quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company's stock valued at $554,000 after purchasing an additional 33,765 shares in the last quarter. Finally, Equitable Trust Co. boosted its position in shares of Perion Network by 34.0% during the first 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 in the last quarter. 68.12% of the stock is currently owned by institutional investors.

Perion Network Price Performance

PERI stock opened at $9.78 on Tuesday. Perion Network Ltd has a 1-year low of $6.99 and a 1-year high of $11.79. The business has a fifty day moving average price of $9.56 and a 200-day moving average price of $9.68. The stock has a market capitalization of $438.44 million, a P/E ratio of -81.50, a P/E/G ratio of 0.85 and a beta of 1.54.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PERI. Weiss Ratings restated a "sell (d+)" rating on shares of Perion Network in a research report on Saturday, September 27th. Lake Street Capital lifted their price objective on Perion Network from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen upgraded Perion Network from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $12.38.

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.

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