Ryan Macnab Perfit Sells 9,604 Shares of Fluent (NASDAQ:FLNT) Stock

Fluent, Inc. (NASDAQ:FLNT) CFO Ryan Macnab Perfit sold 9,604 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $2.59, for a total transaction of $24,874.36. Following the completion of the sale, the chief financial officer directly owned 19,334 shares in the company, valued at approximately $50,075.06. This trade represents a 33.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fluent Stock Performance

Shares of NASDAQ FLNT traded down $0.23 during midday trading on Wednesday, hitting $2.16. The company’s stock had a trading volume of 78,950 shares, compared to its average volume of 31,385. The stock has a fifty day moving average price of $3.12 and a 200 day moving average price of $2.89. Fluent, Inc. has a one year low of $1.62 and a one year high of $4.15. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $64.41 million, a price-to-earnings ratio of -2.48 and a beta of 1.03.

Fluent (NASDAQ:FLNT) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02. Fluent had a negative net margin of 12.22% and a negative return on equity of 132.41%. The company had revenue of $44.85 million for the quarter, compared to analyst estimates of $48.80 million. On average, research analysts forecast that Fluent, Inc. will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluent

Several institutional investors and hedge funds have recently made changes to their positions in FLNT. Mink Brook Asset Management LLC bought a new position in shares of Fluent during the 3rd quarter valued at $634,000. Susquehanna International Group LLP grew its holdings in shares of Fluent by 65.3% during the 3rd quarter. Susquehanna International Group LLP now owns 39,947 shares of the company’s stock valued at $89,000 after purchasing an additional 15,777 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $347,000 after purchasing an additional 44,684 shares during the last quarter. Millennium Management LLC bought a new position in shares of Fluent during the 4th quarter valued at $84,000. Finally, 4WEALTH Advisors Inc. grew its holdings in shares of Fluent by 27.1% during the 1st quarter. 4WEALTH Advisors Inc. now owns 22,237 shares of the company’s stock valued at $69,000 after purchasing an additional 4,735 shares during the last quarter. Institutional investors own 23.33% of the company’s stock.

Wall Street Analysts Forecast Growth

FLNT has been the topic of several research reports. Lake Street Capital assumed coverage on shares of Fluent in a research report on Thursday, April 23rd. They issued a “buy” rating and a $5.00 price target on the stock. Canaccord Genuity Group increased their price target on shares of Fluent from $2.50 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.25.

Fluent Company Profile

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.