Perion Network Ltd. (NASDAQ:PERI) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lowered its stake in shares of Perion Network Ltd. (NASDAQ:PERI) by 10.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,726 shares of the technology company’s stock after selling 3,807 shares during the quarter. Ritholtz Wealth Management owned approximately 0.09% of Perion Network worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Sowell Financial Services LLC raised its holdings in Perion Network by 136.0% during the first quarter. Sowell Financial Services LLC now owns 1,600 shares of the technology company’s stock worth $26,000 after purchasing an additional 922 shares in the last quarter. Dorsey Wright & Associates raised its holdings in Perion Network by 135.5% during the first quarter. Dorsey Wright & Associates now owns 3,744 shares of the technology company’s stock worth $67,000 after purchasing an additional 2,154 shares in the last quarter. Advisory Services Network LLC raised its holdings in Perion Network by 2,225.0% during the fourth quarter. Advisory Services Network LLC now owns 9,300 shares of the technology company’s stock worth $118,000 after purchasing an additional 8,900 shares in the last quarter. Walleye Trading LLC acquired a new stake in Perion Network during the fourth quarter worth approximately $190,000. Finally, GSA Capital Partners LLP acquired a new stake in Perion Network during the first quarter worth approximately $342,000. 38.38% of the stock is currently owned by institutional investors.

NASDAQ:PERI opened at $16.59 on Friday. The firm has a fifty day moving average price of $16.52. Perion Network Ltd. has a 1-year low of $5.02 and a 1-year high of $28.32. The stock has a market cap of $561.60 million, a price-to-earnings ratio of 42.54, a price-to-earnings-growth ratio of 3.77 and a beta of 1.05.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data on Tuesday, May 4th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Perion Network had a net margin of 3.47% and a return on equity of 8.03%. The firm had revenue of $89.82 million for the quarter, compared to analyst estimates of $85.93 million. Equities analysts forecast that Perion Network Ltd. will post 0.42 EPS for the current year.

A number of analysts have weighed in on PERI shares. Zacks Investment Research raised shares of Perion Network from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Friday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 target price on shares of Perion Network in a report on Wednesday, May 5th. Roth Capital lifted their target price on shares of Perion Network from $30.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, May 5th. Lake Street Capital lifted their target price on shares of Perion Network from $30.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, March 3rd. Finally, Stifel Nicolaus began coverage on shares of Perion Network in a report on Wednesday, April 14th. They issued a “hold” rating and a $18.00 target price on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Perion Network has a consensus rating of “Buy” and a consensus price target of $20.86.

Perion Network Company 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.

Recommended Story: Hang Seng Index (HSI)

Want to see what other hedge funds are holding PERI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perion Network Ltd. (NASDAQ:PERI).

Institutional Ownership by Quarter for Perion Network (NASDAQ:PERI)

Receive News & Ratings for Perion Network Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perion Network and related companies with MarketBeat.com's FREE daily email newsletter.