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

Cardlytics, Inc. (NASDAQ:CDLX) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 7,100,000 shares, a decrease of 6.7% from the October 15th total of 7,610,000 shares. Based on an average daily trading volume, of 907,300 shares, the days-to-cover ratio is presently 7.8 days.

Analyst Ratings Changes

Several research analysts have recently commented on CDLX shares. Bank of America lowered Cardlytics from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $4.00 to $3.50 in a report on Thursday, August 15th. Lake Street Capital lowered shares of Cardlytics from a “buy” rating to a “hold” rating and decreased their target price for the company from $18.00 to $5.00 in a report on Thursday, August 8th. Northland Capmk downgraded shares of Cardlytics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 16th. Craig Hallum raised shares of Cardlytics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Northland Securities lowered Cardlytics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $7.00 to $5.00 in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.92.

Insider Transactions at Cardlytics

In other news, CEO Amit Gupta sold 22,607 shares of the company’s 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 in the company, valued at $687,298.15. This represents a 11.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alexis Desieno sold 25,118 shares of Cardlytics stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $3.43, for a total value of $86,154.74. Following the transaction, the chief financial officer now owns 116,481 shares in the company, valued at approximately $399,529.83. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,691 shares of company stock valued at $237,767 over the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in Cardlytics by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,769 shares of the company’s stock valued at $432,000 after buying an additional 1,774 shares during the period. Canton Hathaway LLC boosted its holdings in Cardlytics by 95.7% in the second quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock valued at $37,000 after purchasing an additional 2,200 shares during the period. Check Capital Management Inc. CA grew its stake in Cardlytics by 10.4% during the 3rd quarter. Check Capital Management Inc. CA now owns 50,650 shares of the company’s stock worth $162,000 after purchasing an additional 4,775 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Cardlytics by 32.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,745 shares of the company’s stock worth $63,000 after purchasing an additional 4,796 shares during the period. Finally, Creative Planning boosted its stake in shares of Cardlytics by 35.4% in the 3rd quarter. Creative Planning now owns 29,537 shares of the company’s stock valued at $95,000 after buying an additional 7,721 shares during the period. Institutional investors and hedge funds own 68.10% of the company’s stock.

Cardlytics Stock Performance

Shares of CDLX stock opened at $3.51 on Wednesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $178.38 million, a P/E ratio of -0.57 and a beta of 1.61. The firm’s 50 day moving average price is $3.73 and its 200-day moving average price is $6.17. Cardlytics has a one year low of $2.89 and a one year high of $20.52.

Cardlytics (NASDAQ:CDLX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.18. Cardlytics had a negative return on equity of 110.67% and a negative net margin of 93.55%. The company had revenue of $67.06 million for the quarter, compared to analysts’ expectations of $57.77 million. During the same period in the prior year, the firm earned ($0.26) earnings per share. The firm’s revenue was down 15.1% compared to the same quarter last year. As a group, equities research analysts predict that Cardlytics will post -1.52 EPS for the current year.

About Cardlytics

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.