Scotia Capital Inc. Has $381,000 Stock Position in Perion Network Ltd. (NASDAQ:PERI)

Scotia Capital Inc. decreased its position in Perion Network Ltd. (NASDAQ:PERI) by 30.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the technology company’s stock after selling 20,000 shares during the quarter. Scotia Capital Inc.’s holdings in Perion Network were worth $381,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in shares of Perion Network by 4.6% during the third quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock worth $397,000 after buying an additional 2,225 shares in the last quarter. Perkins Capital Management Inc. grew its position in shares of Perion Network by 4.2% during the 4th quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company’s stock worth $470,000 after purchasing an additional 2,240 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Perion Network by 8.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company’s stock worth $294,000 after purchasing an additional 2,711 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Perion Network in the fourth quarter valued at approximately $41,000. Finally, SBI Securities Co. Ltd. bought a new position in Perion Network during the 4th quarter worth $45,000. 68.12% of the stock is owned by institutional investors and hedge funds.

Perion Network Trading Up 1.8 %

Shares of Perion Network stock opened at $8.04 on Tuesday. Perion Network Ltd. has a 1 year low of $7.00 and a 1 year high of $13.49. The firm has a market capitalization of $360.39 million, a PE ratio of 30.92, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The firm’s 50 day moving average is $8.43 and its 200 day moving average is $8.50.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. As a group, research analysts anticipate that Perion Network Ltd. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

PERI has been the topic of a number of recent analyst reports. StockNews.com cut Perion Network from a “hold” rating to a “sell” rating in a research report on Friday, April 4th. Lake Street Capital reaffirmed a “buy” rating and set a $10.50 price target (down previously from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

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.