Cardlytics Stock to Reverse Split on Monday, June 8th (NASDAQ:CDLX)

Cardlytics, Inc. (NASDAQ:CDLX) shares are set to reverse split on the morning of Monday, June 8th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, June 7th.

Cardlytics Price Performance

Cardlytics stock traded down $0.04 during midday trading on Thursday, hitting $0.61. The company’s stock had a trading volume of 547,003 shares, compared to its average volume of 813,679. The stock’s 50-day moving average price is $0.85 and its 200-day moving average price is $0.97. Cardlytics has a 12 month low of $0.57 and a 12 month high of $3.28.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Cardlytics had a negative return on equity of 956.56% and a negative net margin of 46.03%.The business had revenue of $56.10 million during the quarter, compared to the consensus estimate of $54.46 million. As a group, sell-side analysts anticipate that Cardlytics will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

CDLX has been the topic of several research reports. Evercore set a $1.00 price target on shares of Cardlytics in a research report on Friday, March 6th. Wall Street Zen raised Cardlytics from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Bank of America reissued an “underperform” rating on shares of Cardlytics in a research note on Thursday, March 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cardlytics in a research note on Friday, April 10th. Finally, Lake Street Capital set a $1.00 price target on Cardlytics in a research note on Friday, May 8th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Sell” and a consensus target price of $1.00.

Insider Buying and Selling

In other Cardlytics news, CFO David Thomas Evans bought 150,000 shares of the stock in a transaction on Friday, May 15th. The shares were bought at an average price of $0.65 per share, with a total value of $97,500.00. Following the purchase, the chief financial officer directly owned 267,930 shares in the company, valued at $174,154.50. The trade was a 127.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Hollmeyer Lynton sold 40,296 shares of Cardlytics stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $0.99, for a total value of $39,893.04. Following the transaction, the insider directly owned 167,856 shares in the company, valued at approximately $166,177.44. This trade represents a 19.36% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 226,903 shares of company stock valued at $241,312. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cardlytics

Several institutional investors and hedge funds have recently bought and sold shares of CDLX. XTX Topco Ltd grew its stake in Cardlytics by 143.5% during the 2nd quarter. XTX Topco Ltd now owns 85,971 shares of the company’s stock valued at $141,000 after acquiring an additional 50,663 shares in the last quarter. Marshall Wace LLP purchased a new position in Cardlytics during the 2nd quarter valued at about $59,000. Jane Street Group LLC grew its stake in Cardlytics by 263.0% during the 2nd quarter. Jane Street Group LLC now owns 162,427 shares of the company’s stock valued at $267,000 after acquiring an additional 117,687 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Cardlytics during the 3rd quarter valued at about $26,000. Finally, Thompson Davis & CO. Inc. purchased a new position in Cardlytics during the 3rd quarter valued at about $111,000. Hedge funds and other institutional investors own 68.10% of the company’s stock.

Cardlytics Company Profile

Cardlytics, Inc operates a purchase intelligence and marketing platform that connects advertisers with consumers through bank and credit card transaction data. The company partners with financial institutions to analyze anonymized purchase information, enabling brands to deliver highly targeted offers and rewards directly to customers’ online and mobile banking channels. By leveraging real-time insights into consumer spending habits, Cardlytics helps marketers optimize campaign performance and measure return on ad spend more accurately than traditional digital advertising methods.

At the core of Cardlytics’ offering is its proprietary purchase intelligence engine, which aggregates and anonymizes transaction data from partner banks and credit unions.