Cardlytics, Inc. (NASDAQ:CDLX) Sees Large Drop in Short Interest

Cardlytics, Inc. (NASDAQ:CDLX) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 7,610,000 shares, a decline of 8.2% from the September 30th total of 8,290,000 shares. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is currently 6.3 days.

Insiders Place Their Bets

In other news, CEO Amit Gupta sold 22,607 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $3.85, for a total value of $87,036.95. Following the sale, the chief executive officer now directly owns 178,519 shares of the company’s stock, valued at approximately $687,298.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Amit Gupta sold 22,607 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $3.85, for a total value of $87,036.95. Following the completion of the sale, the chief executive officer now directly owns 178,519 shares of the company’s stock, valued at approximately $687,298.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott A. Hill acquired 40,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $3.58 per share, for a total transaction of $143,200.00. Following the purchase, the director now owns 40,000 shares of the company’s stock, valued at $143,200. The disclosure for this purchase can be found here. Insiders sold a total of 43,573 shares of company stock valued at $151,612 in the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

A number of hedge funds and other institutional investors have recently bought and sold shares of CDLX. Quadrature Capital Ltd acquired a new stake in Cardlytics in the 1st quarter valued at about $1,906,000. Renaissance Technologies LLC increased its holdings in shares of Cardlytics by 711.9% in the second quarter. Renaissance Technologies LLC now owns 351,035 shares of the company’s stock valued at $2,882,000 after purchasing an additional 307,800 shares in the last quarter. Vanguard Group Inc. raised its position in Cardlytics by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 2,211,595 shares of the company’s stock worth $32,046,000 after purchasing an additional 57,805 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in Cardlytics by 13.8% during the 1st quarter. Susquehanna Fundamental Investments LLC now owns 31,536 shares of the company’s stock worth $457,000 after buying an additional 3,836 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Cardlytics in the 3rd quarter valued at $45,000. 68.10% of the stock is owned by institutional investors and hedge funds.

Cardlytics Price Performance

NASDAQ:CDLX traded up $0.17 during trading hours on Thursday, reaching $4.31. The company had a trading volume of 487,043 shares, compared to its average volume of 1,231,100. The firm has a market capitalization of $210.25 million, a PE ratio of -0.98 and a beta of 1.67. The stock has a 50-day moving average of $3.62 and a two-hundred day moving average of $7.05. Cardlytics has a one year low of $2.89 and a one year high of $20.52. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.01.

Cardlytics (NASDAQ:CDLX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.12. The business had revenue of $69.64 million during the quarter, compared to analysts’ expectations of $75.39 million. Cardlytics had a negative net margin of 50.21% and a negative return on equity of 17.96%. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.57) EPS. Analysts forecast that Cardlytics will post -1.72 earnings per share for the current year.

Wall Street Analyst Weigh In

CDLX has been the topic of a number of recent research reports. Craig Hallum downgraded Cardlytics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Bank of America cut Cardlytics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $4.00 to $3.50 in a research report on Thursday, August 15th. Needham & Company LLC cut Cardlytics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Northland Capmk lowered shares of Cardlytics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Northland Securities cut shares of Cardlytics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $7.00 to $5.00 in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.92.

Cardlytics Company Profile

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.