Cardlytics (NASDAQ:CDLX) Shares Up 10.8%

Cardlytics Inc (NASDAQ:CDLX) shot up 10.8% during mid-day trading on Monday . The company traded as high as $73.90 and last traded at $73.40. 528,931 shares traded hands during trading, a decline of 30% from the average session volume of 758,965 shares. The stock had previously closed at $66.24.

CDLX has been the subject of several analyst reports. Craig Hallum boosted their price target on Cardlytics from $50.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. BidaskClub lowered Cardlytics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 1st. Wells Fargo & Company downgraded Cardlytics from an “overweight” rating to an “equal weight” rating and set a $80.00 target price on the stock. in a research report on Friday, August 28th. They noted that the move was a valuation call. SunTrust Banks lifted their price target on Cardlytics from $55.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Zacks Investment Research cut Cardlytics from a “hold” rating to a “sell” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $64.14.

The company has a market cap of $2.00 billion, a PE ratio of -50.03 and a beta of 2.32. The firm has a fifty day simple moving average of $73.41 and a 200 day simple moving average of $62.51.

Cardlytics (NASDAQ:CDLX) last posted its earnings results on Tuesday, August 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.74) by $0.36. The firm had revenue of $28.22 million during the quarter, compared to the consensus estimate of $30.84 million. Cardlytics had a negative net margin of 18.86% and a negative return on equity of 26.42%. The company’s revenue was down 42.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.12) EPS. Sell-side analysts anticipate that Cardlytics Inc will post -2.14 EPS for the current fiscal year.

In related news, major shareholder Clifford Sosin purchased 145,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was purchased at an average price of $63.79 per share, for a total transaction of $9,249,550.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Scott D. Grimes sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $78.63, for a total transaction of $157,260.00. Following the completion of the sale, the chairman now directly owns 235,790 shares of the company’s stock, valued at approximately $18,540,167.70. The disclosure for this sale can be found here. In the last three months, insiders bought 284,100 shares of company stock worth $18,671,681 and sold 45,964 shares worth $3,538,418. Company insiders own 6.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CDLX. Motley Fool Wealth Management LLC boosted its position in Cardlytics by 0.6% in the 2nd quarter. Motley Fool Wealth Management LLC now owns 102,388 shares of the company’s stock valued at $7,165,000 after buying an additional 562 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Cardlytics by 4.3% during the first quarter. Alliancebernstein L.P. now owns 17,100 shares of the company’s stock worth $598,000 after acquiring an additional 700 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Cardlytics in the second quarter worth about $54,000. Ameritas Investment Partners Inc. boosted its holdings in Cardlytics by 78.4% in the second quarter. Ameritas Investment Partners Inc. now owns 2,284 shares of the company’s stock valued at $160,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Cardlytics by 30.2% during the 1st quarter. Royal Bank of Canada now owns 4,737 shares of the company’s stock valued at $166,000 after purchasing an additional 1,099 shares in the last quarter. 91.40% of the stock is currently owned by hedge funds and other institutional investors.

Cardlytics Company Profile (NASDAQ:CDLX)

Cardlytics, Inc operates a purchase intelligence platform in the United States and the United Kingdom. It operates in two segments, Cardlytics Direct and Other Platform Solutions. The company's platform is the Cardlytics Direct solution, a proprietary native bank advertising channel that enables marketers to reach consumers through their trusted and frequently visited online and mobile banking channels.

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