Ritholtz Wealth Management decreased its holdings in Perion Network Ltd. (NASDAQ:PERI) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,726 shares of the technology company’s stock after selling 3,807 shares during the quarter. Ritholtz Wealth Management’s holdings in Perion Network were worth $568,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. UBS Group AG grew its stake in shares of Perion Network by 3,825.9% in the first quarter. UBS Group AG now owns 434,710 shares of the technology company’s stock worth $7,781,000 after purchasing an additional 423,637 shares in the last quarter. Monarch Partners Asset Management LLC boosted its stake in Perion Network by 548.3% during the first quarter. Monarch Partners Asset Management LLC now owns 291,246 shares of the technology company’s stock valued at $5,213,000 after buying an additional 246,322 shares in the last quarter. Yorktown Management & Research Co Inc boosted its stake in Perion Network by 14.3% during the first quarter. Yorktown Management & Research Co Inc now owns 52,600 shares of the technology company’s stock valued at $942,000 after buying an additional 6,600 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Perion Network by 14,072.8% during the first quarter. Russell Investments Group Ltd. now owns 131,665 shares of the technology company’s stock valued at $2,272,000 after buying an additional 130,736 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Perion Network during the first quarter valued at about $342,000. 38.38% of the stock is owned by institutional investors.
Several research analysts recently weighed in on the company. Zacks Investment Research raised Perion Network from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Friday, June 4th. Stifel Nicolaus assumed coverage on Perion Network in a research note on Wednesday, April 14th. They set a “hold” rating and a $18.00 target price for the company. Lake Street Capital raised their target price on Perion Network from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, March 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of Perion Network in a research report on Wednesday, May 5th. Finally, Roth Capital increased their price target on Perion Network from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $20.86.
Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Tuesday, May 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06. The firm had revenue of $89.82 million during the quarter, compared to the consensus estimate of $85.93 million. Perion Network had a return on equity of 8.03% and a net margin of 3.47%. On average, sell-side analysts predict that Perion Network Ltd. will post 0.42 earnings per share for the current year.
Perion Network Profile
Perion Network Ltd. delivers advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides Wildfire, a content monetization platform; search monetization solutions; actionable performance monitoring platform, a cross-channel social software as a service platform that lifts return on ad spend; and Smilebox, which enables people to tell the stories of their lives with customizable eCards, slideshows, invitations, collages, and other solution.
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