Quadrature Capital Ltd Cuts Holdings in Perion Network Ltd. (NASDAQ:PERI)

Quadrature Capital Ltd cut its position in shares of Perion Network Ltd. (NASDAQ:PERI) by 68.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,003 shares of the technology company’s stock after selling 37,538 shares during the period. Quadrature Capital Ltd’s holdings in Perion Network were worth $134,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in shares of Perion Network by 43.5% in the second quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock valued at $14,367,000 after purchasing an additional 522,424 shares in the last quarter. Clearline Capital LP purchased a new position in shares of Perion Network in the 3rd quarter worth $2,221,000. Y.D. More Investments Ltd raised its position in shares of Perion Network by 580.4% during the 2nd quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock valued at $2,191,000 after buying an additional 225,520 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Perion Network by 997.5% during the 2nd quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock valued at $1,117,000 after buying an additional 121,622 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in shares of Perion Network by 156.9% in the 2nd quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock valued at $1,603,000 after acquiring an additional 117,253 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Stock Up 1.6 %

PERI opened at $9.05 on Thursday. The business has a fifty day moving average of $8.42 and a 200 day moving average of $8.69. The stock has a market cap of $428.16 million, a P/E ratio of 9.73, a PEG ratio of 0.47 and a beta of 1.47. Perion Network Ltd. has a 52-week low of $7.47 and a 52-week high of $32.99.

Analyst Ratings Changes

A number of brokerages have issued reports on PERI. Stifel Nicolaus decreased their price objective on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research 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 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 currently has an average rating of “Hold” and an average price target of $12.13.

Perion Network Company 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.