Cardlytics, Inc. (NASDAQ:CDLX) Short Interest Update

Cardlytics, Inc. (NASDAQ:CDLX - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 8,620,000 shares, a growth of 14.6% from the July 31st total of 7,520,000 shares. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is currently 7.3 days.

Insider Activity

In other Cardlytics news, Director Scott A. Hill bought 40,000 shares of the business's stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $3.58 per share, with a total value of $143,200.00. Following the acquisition, the director now directly owns 40,000 shares of the company's stock, valued at approximately $143,200. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Scott A. Hill acquired 40,000 shares of the company's stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $3.58 per share, with a total value of $143,200.00. Following the purchase, the director now owns 40,000 shares of the company's stock, valued at approximately $143,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Amit Gupta sold 22,699 shares of the business's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $8.66, for a total transaction of $196,573.34. Following the completion of the transaction, the chief operating officer now directly owns 150,569 shares in the company, valued at $1,303,927.54. The disclosure for this sale can be found here. Insiders have sold 86,742 shares of company stock valued at $735,905 in the last ninety days. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its holdings in shares of Cardlytics by 6.8% during the 2nd quarter. Marshall Wace LLP now owns 814,281 shares of the company's stock worth $6,685,000 after acquiring an additional 52,081 shares during the period. XTX Topco Ltd purchased a new position in shares of Cardlytics during the 2nd quarter worth about $107,000. Pekin Hardy Strauss Inc. purchased a new position in shares of Cardlytics during the 2nd quarter worth about $243,000. Renaissance Technologies LLC lifted its holdings 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 period. Finally, ClariVest Asset Management LLC lifted its holdings in shares of Cardlytics by 48.7% during the 2nd quarter. ClariVest Asset Management LLC now owns 72,546 shares of the company's stock worth $596,000 after acquiring an additional 23,746 shares during the period. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CDLX shares. Lake Street Capital cut shares of Cardlytics from a "buy" rating to a "hold" rating and lowered their price target for the stock from $18.00 to $5.00 in a research note on Thursday, August 8th. Northland Securities cut shares of Cardlytics from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $7.00 to $5.00 in a research note on Friday, August 16th. Northland Capmk lowered shares of Cardlytics from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 16th. Needham & Company LLC lowered shares of Cardlytics from a "buy" rating to a "hold" rating in a research report on Thursday, August 8th. Finally, Craig Hallum lowered shares of Cardlytics from a "buy" rating to a "hold" rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Cardlytics currently has a consensus rating of "Hold" and an average price target of $7.50.

Cardlytics Price Performance

Shares of Cardlytics stock traded down $0.14 on Friday, hitting $3.91. The company's stock had a trading volume of 728,038 shares, compared to its average volume of 1,368,697. The company has a market capitalization of $190.74 million, a P/E ratio of -0.88 and a beta of 1.65. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average price of $6.69 and a 200-day moving average price of $9.25. Cardlytics has a 52-week low of $2.89 and a 52-week high of $20.52.

Cardlytics (NASDAQ:CDLX - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.12. The company had revenue of $69.64 million for the quarter, compared to analyst estimates of $75.39 million. Cardlytics had a negative net margin of 55.23% and a negative return on equity of 25.36%. The firm's quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.57) EPS. On average, equities research analysts expect that Cardlytics will post -1.8 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.