UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Perion Network Ltd. (NASDAQ:PERI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Perion Network Ltd. (NASDAQ:PERI) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,104 shares of the technology company’s stock after selling 4,664 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.09% of Perion Network worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of PERI. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Perion Network by 17.8% in the 2nd 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 last quarter. Van ECK Associates Corp grew its position in shares of 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 purchasing an additional 1,468 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Perion Network during the second quarter valued at approximately $157,000. SG Americas Securities LLC bought a new stake in Perion Network in the 2nd quarter valued at $225,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Perion Network by 38.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 46,026 shares of the technology company’s stock worth $384,000 after buying an additional 12,875 shares in the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PERI. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th. Stifel Nicolaus dropped their price objective on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.13.

Perion Network Trading Up 0.4 %

Shares of NASDAQ PERI opened at $8.21 on Friday. The stock has a market capitalization of $388.39 million, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.47 and a beta of 1.47. Perion Network Ltd. has a 12-month low of $7.47 and a 12-month high of $31.60. The stock’s fifty day simple moving average is $8.51 and its two-hundred day simple moving average is $8.53.

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.