Short Interest in Cardlytics, Inc. (NASDAQ:CDLX) Decreases By 6.7%

Cardlytics, Inc. (NASDAQ:CDLX) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 7,100,000 shares, a decline of 6.7% from the October 15th total of 7,610,000 shares. Based on an average daily volume of 907,300 shares, the short-interest ratio is currently 7.8 days.

Analyst Ratings Changes

Several brokerages recently commented on CDLX. Craig Hallum upgraded shares of Cardlytics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Lake Street Capital downgraded Cardlytics from a “buy” rating to a “hold” rating and reduced their target price for the company from $18.00 to $5.00 in a report on Thursday, August 8th. Bank of America downgraded Cardlytics from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $4.00 to $3.50 in a research note on Thursday, August 15th. Evercore ISI started coverage on Cardlytics in a research note on Friday, October 11th. They issued an “in-line” rating and a $4.00 price objective for the company. Finally, Northland Securities lowered shares of Cardlytics from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $7.00 to $5.00 in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.92.

Insider Transactions at Cardlytics

In related news, CEO Amit Gupta sold 22,607 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $3.85, for a total transaction of $87,036.95. Following the completion of the sale, the chief executive officer now owns 178,519 shares in the company, valued at $687,298.15. The trade was a 11.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alexis Desieno sold 25,118 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 116,481 shares in the company, valued at $399,529.83. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,691 shares of company stock valued at $237,767. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Cardlytics

A number of institutional investors and hedge funds have recently made changes to their positions in CDLX. Canton Hathaway LLC grew its holdings in shares of Cardlytics by 95.7% in the 2nd quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,200 shares during the period. Atom Investors LP purchased a new stake in Cardlytics in the 3rd quarter valued at about $33,000. XTX Topco Ltd acquired a new position in shares of Cardlytics during the 2nd quarter valued at about $107,000. SG Americas Securities LLC purchased a new position in shares of Cardlytics during the 3rd quarter worth about $45,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Cardlytics in the third quarter worth approximately $47,000. 68.10% of the stock is owned by institutional investors and hedge funds.

Cardlytics Trading Up 2.0 %

Shares of CDLX stock opened at $3.51 on Wednesday. Cardlytics has a twelve month low of $2.89 and a twelve month high of $20.52. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.40. The business’s 50 day moving average is $3.73 and its two-hundred day moving average is $6.17. The company has a market capitalization of $178.38 million, a P/E ratio of -0.57 and a beta of 1.61.

Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $57.77 million. During the same period in the prior year, the company posted ($0.26) earnings per share. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. Equities analysts forecast that Cardlytics will post -1.52 EPS for the current 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.