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

Cardlytics, Inc. (NASDAQ:CDLX) saw a significant 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 daily trading volume, of 1,200,000 shares, the short-interest ratio is currently 6.3 days.

Wall Street Analysts Forecast Growth

Several analysts have commented on CDLX shares. Evercore ISI started coverage on shares of Cardlytics in a research report on Friday, October 11th. They issued an “in-line” rating and a $4.00 price objective on the stock. Bank of America lowered Cardlytics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $4.00 to $3.50 in a report on Thursday, August 15th. Northland Capmk lowered Cardlytics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 16th. Lake Street Capital downgraded Cardlytics from a “buy” rating to a “hold” rating and cut their price target for the stock from $18.00 to $5.00 in a research note on Thursday, August 8th. Finally, Northland Securities cut Cardlytics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $7.00 to $5.00 in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.92.

Insider Activity at Cardlytics

In related news, Director Scott A. Hill acquired 40,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $3.58 per share, for a total transaction of $143,200.00. Following the purchase, the director now owns 40,000 shares in the company, valued at approximately $143,200. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Scott A. Hill acquired 40,000 shares of Cardlytics stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $3.58 per share, with a total value of $143,200.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $143,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of 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 have sold a total of 43,573 shares of company stock valued at $151,612 over the last 90 days. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Creative Planning grew its position in Cardlytics by 35.4% during the third quarter. Creative Planning now owns 29,537 shares of the company’s stock worth $95,000 after buying an additional 7,721 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Cardlytics during the third quarter worth about $45,000. Marshall Wace LLP grew its holdings in shares of Cardlytics by 6.8% during the second 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 bought a new position in shares of Cardlytics in the second quarter worth approximately $107,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Cardlytics in the second quarter valued at approximately $243,000. Institutional investors own 68.10% of the company’s stock.

Cardlytics Price Performance

CDLX traded down $0.09 during trading on Friday, reaching $4.22. 544,257 shares of the company were exchanged, compared to its average volume of 1,227,789. Cardlytics has a 12-month low of $2.89 and a 12-month high of $20.52. The company’s 50-day moving average is $3.62 and its two-hundred day moving average is $7.05. 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 cap of $210.32 million, a price-to-earnings ratio of -1.12 and a beta of 1.67.

Cardlytics (NASDAQ:CDLX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.12. The company had revenue of $69.64 million during the quarter, compared to analyst estimates of $75.39 million. Cardlytics had a negative net margin of 50.21% and a negative return on equity of 17.96%. Cardlytics’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the business earned ($0.57) earnings per share. Research analysts forecast that Cardlytics will post -1.72 earnings per share for the current fiscal 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.