Centiva Capital LP Sells 33,168 Shares of Perion Network Ltd. (NASDAQ:PERI)

Centiva Capital LP trimmed its stake in Perion Network Ltd. (NASDAQ:PERI) by 76.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,025 shares of the technology company’s stock after selling 33,168 shares during the period. Centiva Capital LP’s holdings in Perion Network were worth $79,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PERI. BigSur Wealth Management LLC acquired a new stake in Perion Network during the 2nd quarter valued at approximately $84,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Perion Network by 17.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock worth $128,000 after buying an additional 2,299 shares during the period. Van ECK Associates Corp raised its stake in Perion Network by 9.7% during the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock worth $138,000 after buying an additional 1,468 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Perion Network in the second quarter valued at $157,000. Finally, Riverwater Partners LLC bought a new stake in Perion Network during the second quarter valued at $157,000. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Price Performance

Shares of Perion Network stock opened at $8.55 on Friday. Perion Network Ltd. has a one year low of $7.47 and a one year high of $32.99. The business has a 50-day simple moving average of $8.45 and a 200 day simple moving average of $8.67. The firm has a market capitalization of $404.50 million, a price-to-earnings ratio of 9.19, a PEG ratio of 0.47 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stifel Nicolaus dropped their price objective on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.13.

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.