Captrust Financial Advisors Sells 2,360 Shares of Perion Network Ltd. (NASDAQ:PERI)

Captrust Financial Advisors lowered its holdings in shares of Perion Network Ltd. (NASDAQ:PERI) by 2.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 101,405 shares of the technology company’s stock after selling 2,360 shares during the period. Captrust Financial Advisors’ holdings in Perion Network were worth $859,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Perkins Capital Management Inc. lifted its position in Perion Network by 4.2% during the fourth quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company’s stock worth $470,000 after acquiring an additional 2,240 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in Perion Network by 8.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company’s stock worth $294,000 after acquiring an additional 2,711 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Perion Network during the fourth quarter worth approximately $41,000. SBI Securities Co. Ltd. acquired a new stake in Perion Network during the fourth quarter worth approximately $45,000. Finally, Perritt Capital Management Inc acquired a new stake in Perion Network during the fourth quarter worth approximately $127,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PERI has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research report on Wednesday. Roth Capital set a $14.00 price target on shares of Perion Network in a research report on Wednesday. Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $14.00 in a research report on Wednesday. Lake Street Capital lifted their price target on shares of Perion Network from $10.50 to $13.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, StockNews.com downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Perion Network currently has an average rating of “Hold” and an average target price of $12.13.

Perion Network Trading Down 0.8%

NASDAQ PERI opened at $10.72 on Friday. The company has a 50 day moving average of $8.71 and a 200-day moving average of $8.73. The company has a market cap of $480.52 million, a price-to-earnings ratio of 41.23, a PEG ratio of 0.76 and a beta of 1.47. Perion Network Ltd. has a 1-year low of $7.00 and a 1-year high of $12.74.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. On average, equities research analysts forecast that Perion Network Ltd. will post 0.51 earnings per share for the current 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.