Short Interest in Cardlytics, Inc. (NASDAQ:CDLX) Increases By 14.6%

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

Cardlytics Stock Down 3.5 %

Cardlytics stock traded down $0.14 during trading hours on Monday, hitting $3.91. The company had a trading volume of 728,000 shares, compared to its average volume of 1,368,697. The firm has a market capitalization of $194.87 million, a P/E ratio of -0.88 and a beta of 1.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.77 and a quick ratio of 1.77. The firm’s fifty day moving average is $6.69 and its 200-day moving average is $9.27. Cardlytics has a fifty-two week low of $2.89 and a fifty-two week high of $20.52.

Cardlytics (NASDAQ:CDLX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.12. The firm had revenue of $69.64 million for the quarter, compared to analyst estimates of $75.39 million. Cardlytics had a negative net margin of 50.21% and a negative return on equity of 17.96%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.57) EPS. On average, research analysts forecast that Cardlytics will post -1.72 earnings per share for the current year.

Insider Activity at Cardlytics

In other Cardlytics news, insider Nicholas Hollmeyer Lynton sold 5,956 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $7.95, for a total transaction of $47,350.20. Following the sale, the insider now directly owns 78,593 shares in the company, valued at approximately $624,814.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Karim Saad Temsamani sold 43,129 shares of Cardlytics stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $8.65, for a total value of $373,065.85. Following the transaction, the chief executive officer now owns 385,530 shares of the company’s stock, valued at approximately $3,334,834.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Hollmeyer Lynton sold 5,956 shares of Cardlytics stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $7.95, for a total transaction of $47,350.20. Following the completion of the transaction, the insider now directly owns 78,593 shares in the company, valued at approximately $624,814.35. The disclosure for this sale can be found here. Insiders have sold a total of 86,742 shares of company stock worth $735,905 in the last ninety days. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CDLX. Price T Rowe Associates Inc. MD grew its position 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 worth $432,000 after acquiring an additional 1,774 shares in the last quarter. Canton Hathaway LLC grew its position in Cardlytics by 95.7% in the second quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,200 shares in the last quarter. Brown Advisory Inc. grew its position in Cardlytics by 1.7% in the fourth quarter. Brown Advisory Inc. now owns 199,633 shares of the company’s stock worth $1,839,000 after acquiring an additional 3,257 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its position in Cardlytics by 13.8% in the first quarter. Susquehanna Fundamental Investments LLC now owns 31,536 shares of the company’s stock worth $457,000 after acquiring an additional 3,836 shares in the last quarter. Finally, Quest Partners LLC grew its position in Cardlytics by 160.4% in the second quarter. Quest Partners LLC now owns 17,956 shares of the company’s stock worth $147,000 after acquiring an additional 11,061 shares in the last quarter. Institutional investors and hedge funds own 68.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Needham & Company LLC cut shares of Cardlytics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Craig Hallum cut shares of Cardlytics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Lake Street Capital downgraded shares of Cardlytics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $18.00 to $5.00 in a research report on Thursday, August 8th. Bank of America lowered shares of Cardlytics from a “neutral” rating to an “underperform” rating and cut their price target for the company from $4.00 to $3.50 in a report on Thursday, August 15th. Finally, Northland Securities lowered shares of Cardlytics from an “outperform” rating to a “market perform” rating and cut their price target for the company from $7.00 to $5.00 in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.50.

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.