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

Cardlytics, Inc. (NASDAQ:CDLX) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 7,100,000 shares, a drop 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 short-interest ratio is presently 7.8 days.

Insiders Place Their Bets

In other Cardlytics news, CFO Alexis Desieno sold 25,118 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $3.43, for a total transaction of $86,154.74. Following the completion of the transaction, the chief financial officer now owns 116,481 shares of the company’s stock, valued at approximately $399,529.83. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amit Gupta sold 22,607 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $3.85, for a total transaction of $87,036.95. Following the transaction, the chief executive officer now directly owns 178,519 shares of the company’s stock, valued at $687,298.15. This represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,691 shares of company stock worth $237,767 over the last three months. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

A number of large investors have recently added to or reduced their stakes in CDLX. RBF Capital LLC grew its position in Cardlytics by 311.9% in the 3rd quarter. RBF Capital LLC now owns 488,128 shares of the company’s stock worth $1,562,000 after purchasing an additional 369,620 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Cardlytics by 1,273.2% during the 3rd quarter. GSA Capital Partners LLP now owns 382,315 shares of the company’s stock worth $1,223,000 after acquiring an additional 354,474 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Cardlytics by 711.9% during the 2nd quarter. Renaissance Technologies LLC now owns 351,035 shares of the company’s stock worth $2,882,000 after acquiring an additional 307,800 shares during the last quarter. Kent Lake Capital LLC purchased a new position in shares of Cardlytics during the 1st quarter worth $3,622,000. Finally, Perbak Capital Partners LLP purchased a new position in shares of Cardlytics during the 1st quarter worth $2,348,000. Institutional investors own 68.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Craig Hallum raised shares of Cardlytics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Bank of America downgraded shares of Cardlytics from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $4.00 to $3.50 in a research note on Thursday, August 15th. Evercore ISI assumed coverage on shares of Cardlytics in a research note on Friday, October 11th. They set an “in-line” rating and a $4.00 target price for the company. Northland Capmk downgraded shares of Cardlytics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Lake Street Capital downgraded shares of Cardlytics from a “buy” rating to a “hold” rating and reduced their price target for the company from $18.00 to $5.00 in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.92.

Cardlytics Price Performance

Shares of CDLX opened at $3.48 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.40. Cardlytics has a twelve month low of $2.89 and a twelve month high of $20.52. The company has a market capitalization of $176.86 million, a P/E ratio of -0.55 and a beta of 1.61. The firm has a 50 day moving average of $3.72 and a 200 day moving average of $6.33.

Cardlytics (NASDAQ:CDLX) last posted its 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 net margin of 93.55% and a negative return on equity of 110.67%. The business had revenue of $67.06 million during the quarter, compared to the consensus estimate of $57.77 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. The firm’s revenue was down 15.1% on a year-over-year basis. As a group, equities research analysts anticipate that Cardlytics will post -1.52 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.