Perritt Capital Management Inc. lifted its position in shares of Cardlytics Inc (NASDAQ:CDLX) by 121.0% during the second quarter, Holdings Channel reports. The firm owned 22,100 shares of the company’s stock after acquiring an additional 12,100 shares during the period. Perritt Capital Management Inc.’s holdings in Cardlytics were worth $574,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL lifted its stake in shares of Cardlytics by 2.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 15,850 shares of the company’s stock worth $412,000 after purchasing an additional 400 shares during the period. Bank of Montreal Can increased its position in shares of Cardlytics by 16,371.4% during the second quarter. Bank of Montreal Can now owns 1,153 shares of the company’s stock worth $30,000 after purchasing an additional 1,146 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Cardlytics by 2.3% during the first quarter. SG Americas Securities LLC now owns 61,277 shares of the company’s stock worth $1,014,000 after purchasing an additional 1,402 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cardlytics during the second quarter worth approximately $60,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Cardlytics by 6.7% during the first quarter. CIBC Private Wealth Group LLC now owns 37,745 shares of the company’s stock worth $624,000 after purchasing an additional 2,375 shares in the last quarter. 85.01% of the stock is currently owned by institutional investors.
Several analysts recently commented on the company. SunTrust Banks boosted their price target on Cardlytics from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Bank of America restated a “buy” rating and issued a $32.00 target price (up from $22.00) on shares of Cardlytics in a report on Wednesday, July 24th. Zacks Investment Research cut Cardlytics from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. set a $43.00 target price on Cardlytics and gave the company a “buy” rating in a report on Friday, August 9th. Finally, William Blair began coverage on Cardlytics in a report on Monday, July 1st. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Cardlytics presently has a consensus rating of “Buy” and a consensus price target of $33.29.
Cardlytics (NASDAQ:CDLX) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.23. The company had revenue of $48.73 million during the quarter, compared to analysts’ expectations of $43.77 million. Cardlytics had a negative return on equity of 66.01% and a negative net margin of 19.60%. The firm’s quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) EPS. On average, analysts forecast that Cardlytics Inc will post -1.08 earnings per share for the current year.
In other news, Director Bryce Youngren sold 135,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $34.99, for a total transaction of $4,723,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Aimia Inc. sold 1,500,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $29.95, for a total value of $44,925,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,354,392 shares of company stock valued at $72,349,708. Company insiders own 21.90% of the company’s stock.
Cardlytics, Inc operates a purchase intelligence platform in the United States and the United Kingdom. It operates in two segments, Cardlytics Direct and Other Platform Solutions. The company's platform is the Cardlytics Direct solution, a proprietary native bank advertising channel that enables marketers to reach consumers through their trusted and frequently visited online and mobile banking channels.
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