Fluent (NASDAQ:FLNT) Major Shareholder Global Value Investment Corp. Buys 65,148 Shares of Stock

Fluent, Inc. (NASDAQ:FLNT) major shareholder Global Value Investment Corp. purchased 65,148 shares of Fluent stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $3.47 per share, with a total value of $226,063.56. Following the completion of the purchase, the insider directly owned 3,089,676 shares of the company’s stock, valued at approximately $10,721,175.72. This trade represents a 2.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Fluent Stock Up 8.0%

Shares of Fluent stock opened at $3.36 on Tuesday. The company has a market cap of $99.59 million, a price-to-earnings ratio of -3.08 and a beta of 0.94. The company’s 50 day moving average is $3.34 and its 200 day moving average is $2.55. Fluent, Inc. has a twelve month low of $1.50 and a twelve month high of $4.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

Fluent (NASDAQ:FLNT) last issued its earnings results on Monday, March 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The company had revenue of $61.82 million during the quarter, compared to analysts’ expectations of $62.85 million. Fluent had a negative return on equity of 115.19% and a negative net margin of 13.01%. Research analysts anticipate that Fluent, Inc. will post -1.82 EPS for the current year.

Hedge Funds Weigh In On Fluent

A number of institutional investors and hedge funds have recently made changes to their positions in FLNT. Susquehanna International Group LLP increased its holdings in Fluent by 65.3% during the third quarter. Susquehanna International Group LLP now owns 39,947 shares of the company’s stock valued at $89,000 after buying an additional 15,777 shares during the last quarter. Millennium Management LLC bought a new position in Fluent in the fourth quarter worth approximately $84,000. Geode Capital Management LLC boosted its stake in shares of Fluent by 44.7% during the 4th quarter. Geode Capital Management LLC now owns 144,713 shares of the company’s stock worth $347,000 after acquiring an additional 44,684 shares during the last quarter. Finally, Mink Brook Asset Management LLC purchased a new position in shares of Fluent during the 3rd quarter worth $634,000. Hedge funds and other institutional investors own 23.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their price objective on Fluent from $2.50 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, March 10th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.50.

About Fluent

Fluent, Inc is a performance marketing and customer acquisition platform that helps consumer brands drive leads and sales through data-driven digital campaigns. The company specializes in direct-response marketing, executing campaigns across multiple channels including email, display, paid search, social media and native advertising. By focusing on measurable outcomes such as cost per acquisition and return on ad spend, Fluent tailors solutions to meet the specific objectives of its clients.

The company’s proprietary technology leverages first-party data sourced from its network of consumer-facing digital properties and programmatic partnerships.