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

Cardlytics, Inc. (NASDAQ:CDLX) was the target of a large drop in short interest during 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 trading volume of 907,300 shares, the days-to-cover ratio is presently 7.8 days.

Insider Transactions at Cardlytics

In other news, CEO Amit Gupta sold 22,607 shares of Cardlytics stock in a transaction 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 owns 178,519 shares in the company, valued at $687,298.15. This trade represents a 11.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alexis Desieno sold 25,118 shares of Cardlytics stock in a transaction 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 transaction, the chief financial officer now owns 116,481 shares in the company, valued at approximately $399,529.83. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,691 shares of company stock worth $237,767 in the last 90 days. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Cardlytics

A number of large investors have recently made changes to their positions in CDLX. RBF Capital LLC increased its holdings in shares of 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 buying an additional 369,620 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Cardlytics by 1,273.2% in the 3rd quarter. GSA Capital Partners LLP now owns 382,315 shares of the company’s stock worth $1,223,000 after buying an additional 354,474 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Cardlytics by 711.9% during the 2nd quarter. Renaissance Technologies LLC now owns 351,035 shares of the company’s stock valued at $2,882,000 after purchasing an additional 307,800 shares during the last quarter. Kent Lake Capital LLC bought a new position in Cardlytics during the 1st quarter valued at about $3,622,000. Finally, Perbak Capital Partners LLP bought a new position in Cardlytics during the 1st quarter valued at about $2,348,000. 68.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CDLX has been the topic of a number of analyst reports. Craig Hallum upgraded shares of Cardlytics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Northland Securities cut shares of Cardlytics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $7.00 to $5.00 in a research note on Friday, August 16th. Needham & Company LLC reiterated a “hold” rating on shares of Cardlytics in a report on Thursday, November 7th. 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 report on Thursday, August 8th. Finally, Evercore ISI initiated coverage on shares of Cardlytics in a report on Friday, October 11th. They issued an “in-line” rating and a $4.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.92.

Cardlytics Stock Performance

Cardlytics stock opened at $3.48 on Monday. The company’s 50-day moving average price is $3.72 and its 200-day moving average price is $6.33. Cardlytics has a twelve month low of $2.89 and a twelve month high of $20.52. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.40. The company has a market cap of $176.86 million, a PE ratio of -0.55 and a beta of 1.61.

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

Cardlytics Company Profile

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.