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

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

Insiders Place Their Bets

In other 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 directly owns 116,481 shares of the company's stock, valued at $399,529.83. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amit Gupta sold 22,607 shares of the stock in a transaction on Thursday, October 24th. The shares were 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 in the company, valued at approximately $687,298.15. The trade was a 11.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,691 shares of company stock worth $237,767. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cardlytics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Cardlytics by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 2,211,595 shares of the company's stock valued at $32,046,000 after purchasing an additional 57,805 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Cardlytics in the first quarter worth $1,906,000. Price T Rowe Associates Inc. MD raised its holdings in Cardlytics by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,769 shares of the company's stock valued at $432,000 after acquiring an additional 1,774 shares in the last quarter. Perbak Capital Partners LLP acquired a new stake in Cardlytics in the first quarter valued at $2,348,000. Finally, Blackstone Inc. bought a new position in Cardlytics during the 1st quarter valued at $2,029,000. Hedge funds and other institutional investors own 68.10% of the company's stock.

Cardlytics Stock Up 1.8 %

Shares of NASDAQ CDLX traded up $0.06 on Monday, hitting $3.44. The company had a trading volume of 729,807 shares, compared to its average volume of 1,232,833. The firm has a market capitalization of $174.83 million, a P/E ratio of -0.57 and a beta of 1.61. 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 12-month low of $2.89 and a 12-month high of $20.52. The business has a 50 day moving average of $3.72 and a two-hundred day moving average of $6.33.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Bank of America lowered shares of Cardlytics from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $4.00 to $3.50 in a research report on Thursday, August 15th. Craig Hallum upgraded Cardlytics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 6th. Evercore ISI started coverage on Cardlytics in a research note on Friday, October 11th. They issued an "in-line" rating and a $4.00 target price for the company. Northland Capmk downgraded Cardlytics from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Northland Securities lowered shares of Cardlytics from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $7.00 to $5.00 in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cardlytics currently has an average rating of "Hold" and a consensus price target of $6.92.

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.