Fluent (NASDAQ:FLNT) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Fluent (NASDAQ:FLNT) from a buy rating to a hold rating in a report published on Friday, Zacks.com reports.

According to Zacks, “Fluent Inc. provides data-driven performance marketing services. The company is the trusted acquisition partner for both established and growing brands. It creates marketing programs which deliver better digital advertising experiences for consumers and measurable results for advertisers. Fluent Inc., formerly known as COGINT INC, is headquartered in New York City. “

Several other research firms have also recently weighed in on FLNT. ValuEngine cut shares of Fluent from a buy rating to a hold rating in a report on Monday, August 3rd. Canaccord Genuity assumed coverage on shares of Fluent in a research report on Wednesday, August 26th. They issued a buy rating and a $5.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Fluent currently has a consensus rating of Hold and a consensus price target of $4.38.

Fluent stock opened at $3.04 on Friday. Fluent has a fifty-two week low of $1.02 and a fifty-two week high of $3.90. The stock has a market cap of $248.02 million, a PE ratio of -101.33 and a beta of 2.62. The firm’s 50-day simple moving average is $2.64 and its 200 day simple moving average is $2.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.65.

In other Fluent news, President Matthew Conlin purchased 14,441 shares of the stock in a transaction dated Thursday, August 13th. The shares were bought at an average price of $2.32 per share, with a total value of $33,503.12. Following the completion of the transaction, the president now directly owns 6,040,800 shares in the company, valued at approximately $14,014,656. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Schulke purchased 14,915 shares of the stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $2.32 per share, for a total transaction of $34,602.80. Following the transaction, the chief executive officer now owns 6,443,790 shares of the company’s stock, valued at $14,949,592.80. The disclosure for this purchase can be found here. Insiders own 21.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Fluent by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 123,010 shares of the company’s stock valued at $219,000 after purchasing an additional 5,495 shares during the last quarter. Bridgeway Capital Management Inc. boosted its position in Fluent by 1.9% in the second quarter. Bridgeway Capital Management Inc. now owns 503,400 shares of the company’s stock valued at $896,000 after buying an additional 9,200 shares during the last quarter. Zeke Capital Advisors LLC boosted its position in Fluent by 45.0% in the second quarter. Zeke Capital Advisors LLC now owns 43,709 shares of the company’s stock valued at $78,000 after buying an additional 13,559 shares during the last quarter. Aries Wealth Management boosted its position in Fluent by 75.0% in the second quarter. Aries Wealth Management now owns 35,000 shares of the company’s stock valued at $62,000 after buying an additional 15,000 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Fluent in the second quarter valued at approximately $31,000. 30.72% of the stock is currently owned by institutional investors.

About Fluent

Fluent, Inc provides data-driven digital marketing services primarily in the United States. The company also offers customer acquisition services by operating digital marketing campaigns, through which the company connects its advertiser clients with consumers. It delivers data and performance-based marketing executions to approximately 500 consumer brands, direct marketers, and agencies across a range of industries, including financial services, retail and consumer, media and entertainment, staffing and recruitment, and marketing services.

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