Centiva Capital LP Lowers Stock Position in Perion Network Ltd. (NASDAQ:PERI)

Centiva Capital LP trimmed its position in Perion Network Ltd. (NASDAQ:PERI) by 76.8% in the third quarter, HoldingsChannel reports. The firm owned 10,025 shares of the technology company’s stock after selling 33,168 shares during the quarter. Centiva Capital LP’s holdings in Perion Network were worth $79,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Clearline Capital LP bought a new position in shares of Perion Network in the third quarter valued at approximately $2,221,000. PDT Partners LLC grew its position in Perion Network by 58.8% during the third quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock valued at $1,382,000 after buying an additional 64,936 shares during the period. Captrust Financial Advisors grew its position in shares of Perion Network by 55.4% during the 3rd quarter. Captrust Financial Advisors now owns 103,765 shares of the technology company’s stock valued at $818,000 after acquiring an additional 37,005 shares during the period. GSA Capital Partners LLP increased its position in Perion Network by 436.2% in the third quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock worth $603,000 after buying an additional 62,204 shares during the last quarter. Finally, Equitable Trust Co. raised its stake in Perion Network by 19.1% in the 3rd quarter. Equitable Trust Co. now owns 65,770 shares of the technology company’s stock valued at $518,000 after acquiring an additional 10,535 shares during the period. Institutional investors own 68.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PERI shares. 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 report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Perion Network presently has a consensus rating of “Hold” and a consensus target price of $12.13.

Perion Network Trading Down 1.6 %

Shares of NASDAQ PERI opened at $8.55 on Friday. The stock’s 50-day moving average is $8.45 and its 200 day moving average is $8.67. The stock has a market cap of $404.50 million, a price-to-earnings ratio of 9.19, a P/E/G ratio of 0.47 and a beta of 1.47. Perion Network Ltd. has a 1-year low of $7.47 and a 1-year high of $32.99.

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.