Brooktree Capital Management Acquires 33,169 Shares of Cardlytics, Inc. (NASDAQ:CDLX)

Brooktree Capital Management lifted its holdings in shares of Cardlytics, Inc. (NASDAQ:CDLX) by 24.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,642 shares of the company’s stock after purchasing an additional 33,169 shares during the quarter. Cardlytics accounts for about 0.4% of Brooktree Capital Management’s portfolio, making the stock its 23rd biggest position. Brooktree Capital Management’s holdings in Cardlytics were worth $536,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CDLX. GSA Capital Partners LLP increased its stake in Cardlytics by 1,273.2% during the 3rd quarter. GSA Capital Partners LLP now owns 382,315 shares of the company’s stock worth $1,223,000 after purchasing an additional 354,474 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV increased its position in shares of Cardlytics by 40.5% during the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 164,409 shares of the company’s stock worth $526,000 after acquiring an additional 47,358 shares in the last quarter. Creative Planning raised its holdings in shares of Cardlytics by 35.4% during the third quarter. Creative Planning now owns 29,537 shares of the company’s stock worth $95,000 after acquiring an additional 7,721 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Cardlytics during the third quarter worth $45,000. Finally, Marshall Wace LLP lifted its position in Cardlytics by 6.8% in the 2nd quarter. Marshall Wace LLP now owns 814,281 shares of the company’s stock valued at $6,685,000 after acquiring an additional 52,081 shares in the last quarter. Institutional investors own 68.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CDLX. Lake Street Capital cut Cardlytics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $18.00 to $5.00 in a report on Thursday, August 8th. Evercore ISI began coverage on Cardlytics in a report on Friday, October 11th. They set an “in-line” rating and a $4.00 price objective for the company. Northland Capmk cut Cardlytics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardlytics in a research report on Thursday, November 7th. Finally, Bank of America downgraded shares of Cardlytics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $4.00 to $3.50 in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.92.

Insider Transactions at Cardlytics

In other news, CEO Amit Gupta sold 22,607 shares of the firm’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 value of $87,036.95. Following the completion of the sale, the chief executive officer now directly owns 178,519 shares of the company’s stock, valued at $687,298.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 43,573 shares of company stock worth $151,612 in the last ninety days. Insiders own 4.40% of the company’s stock.

Cardlytics Stock Down 8.7 %

NASDAQ:CDLX opened at $3.86 on Thursday. Cardlytics, Inc. has a twelve month low of $2.89 and a twelve month high of $20.52. The firm has a market capitalization of $196.17 million, a price-to-earnings ratio of -0.63 and a beta of 1.61. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.40. The stock’s 50 day moving average price is $3.72 and its two-hundred day moving average price is $6.50.

Cardlytics (NASDAQ:CDLX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $67.06 million for the quarter, compared to the consensus estimate of $57.77 million. During the same period in the previous year, the company earned ($0.26) earnings per share. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. Equities research analysts expect that Cardlytics, Inc. will post -1.72 earnings per share for the current fiscal year.

Cardlytics 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.