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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Perion Network Ltd. (NASDAQ:PERI) by 9.6% in the third quarter, HoldingsChannel.com reports. The institutional investor 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’s holdings in Perion Network were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PERI. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Perion Network by 17.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock valued at $128,000 after acquiring an additional 2,299 shares during the period. Van ECK Associates Corp increased its stake 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 acquired a new position in shares of Perion Network during the second quarter valued at approximately $157,000. SG Americas Securities LLC purchased a new position in Perion Network in the 2nd quarter valued at $225,000. Finally, State of New Jersey Common Pension Fund D boosted its position in Perion Network by 38.8% during 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 acquiring an additional 12,875 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus reduced their price target 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 reaffirmed a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Perion Network currently has an average rating of “Hold” and an average price target of $12.13.

Perion Network Trading Up 0.4 %

Shares of NASDAQ:PERI opened at $8.21 on Friday. Perion Network Ltd. has a twelve month low of $7.47 and a twelve month high of $31.60. The company has a market capitalization of $388.39 million, a PE ratio of 8.83, a P/E/G ratio of 0.47 and a beta of 1.47. The firm has a 50 day simple moving average of $8.51 and a 200-day simple moving average of $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.