Invenomic Capital Management LP Sells 68,736 Shares of Perion Network Ltd. (NASDAQ:PERI)

Invenomic Capital Management LP lessened its position in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 16.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,443 shares of the technology company's stock after selling 68,736 shares during the period. Invenomic Capital Management LP owned 0.72% of Perion Network worth $2,691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PERI. Acadian Asset Management LLC increased its stake 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 worth $14,367,000 after purchasing an additional 522,424 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Perion Network by 2.4% during the first quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company's stock worth $33,387,000 after acquiring an additional 35,476 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Perion Network by 4.4% in the second quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company's stock valued at $11,136,000 after purchasing an additional 55,745 shares in the last quarter. Clearline Capital LP bought a new stake in shares of Perion Network during the 3rd quarter valued at $2,221,000. Finally, Y.D. More Investments Ltd lifted its holdings in 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 worth $2,191,000 after purchasing an additional 225,520 shares in the last quarter. Institutional investors own 68.12% of the company's stock.

Perion Network Stock Down 1.7 %

Shares of PERI stock traded down $0.16 during trading on Wednesday, hitting $9.20. The company had a trading volume of 194,681 shares, compared to its average volume of 646,560. The stock's 50-day moving average is $8.29 and its two-hundred day moving average is $8.78. The stock has a market capitalization of $435.22 million, a price-to-earnings ratio of 10.06, a price-to-earnings-growth 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

Several brokerages have recently weighed in on PERI. Stifel Nicolaus decreased their price target 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 report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $12.13.

About Perion Network

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.