Cardlytics, Inc. (NASDAQ:CDLX) Short Interest Down 8.2% in October

Cardlytics, Inc. (NASDAQ:CDLX) was the recipient of a large decline in short interest in 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 daily volume of 1,200,000 shares, the days-to-cover ratio is currently 6.3 days.

Cardlytics Stock Up 5.0 %

Shares of NASDAQ CDLX traded up $0.20 during trading on Wednesday, reaching $4.19. 441,745 shares of the stock were exchanged, compared to its average volume of 1,233,668. The business’s 50-day moving average price is $3.62 and its 200 day moving average price is $7.07. Cardlytics has a twelve month low of $2.89 and a twelve month 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. The company has a market capitalization of $204.40 million, a price-to-earnings ratio of -0.97 and a beta of 1.67.

Cardlytics (NASDAQ:CDLX) last posted its quarterly 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. Cardlytics had a negative net margin of 50.21% and a negative return on equity of 17.96%. The company had revenue of $69.64 million for the quarter, compared to the consensus estimate of $75.39 million. During the same period last year, the firm posted ($0.57) EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, equities analysts forecast that Cardlytics will post -1.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Cardlytics news, CEO Amit Gupta sold 22,607 shares of Cardlytics stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $3.85, for a total transaction 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 $687,298.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Scott A. Hill purchased 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $3.58 per share, for a total transaction of $143,200.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $143,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amit Gupta sold 22,607 shares of the business’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 transaction, the chief executive officer now owns 178,519 shares in the company, valued at $687,298.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,573 shares of company stock valued at $151,612 in the last three months. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of Cardlytics

Large investors have recently modified their holdings of the company. Creative Planning increased its position in shares of Cardlytics by 35.4% during the 3rd quarter. Creative Planning now owns 29,537 shares of the company’s stock valued at $95,000 after purchasing an additional 7,721 shares during the period. SG Americas Securities LLC acquired a new stake in Cardlytics in the 3rd quarter valued at about $45,000. Marshall Wace LLP raised its holdings in shares of Cardlytics by 6.8% in the 2nd quarter. Marshall Wace LLP now owns 814,281 shares of the company’s stock worth $6,685,000 after purchasing an additional 52,081 shares in the last quarter. XTX Topco Ltd acquired a new stake in Cardlytics during the second quarter valued at approximately $107,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in Cardlytics during the second quarter worth approximately $243,000. Institutional investors and hedge funds own 68.10% of the company’s stock.

Analysts Set New Price Targets

CDLX has been the topic of a number of research reports. Northland Capmk cut Cardlytics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 16th. Craig Hallum cut Cardlytics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Evercore ISI began coverage on Cardlytics in a report on Friday, October 11th. They set an “in-line” rating and a $4.00 target price on the stock. Northland Securities lowered Cardlytics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $7.00 to $5.00 in a research note on Friday, August 16th. Finally, Lake Street Capital downgraded shares of Cardlytics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $18.00 to $5.00 in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock 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.