Pekin Hardy Strauss Inc. Acquires New Shares in Cardlytics, Inc. (NASDAQ:CDLX)

Pekin Hardy Strauss Inc. bought a new position in Cardlytics, Inc. (NASDAQ:CDLX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 29,600 shares of the company’s stock, valued at approximately $243,000. Pekin Hardy Strauss Inc. owned approximately 0.06% of Cardlytics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CDLX. Quadrature Capital Ltd bought a new position in Cardlytics during the first quarter valued at approximately $1,906,000. General Equity Holdings LP lifted its holdings in shares of Cardlytics by 31.0% during the 4th quarter. General Equity Holdings LP now owns 624,058 shares of the company’s stock valued at $5,748,000 after buying an additional 147,843 shares during the period. Vanguard Group Inc. boosted its stake in shares of Cardlytics by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 2,211,595 shares of the company’s stock worth $32,046,000 after buying an additional 57,805 shares during the last quarter. Clear Street Markets LLC bought a new stake in shares of Cardlytics in the fourth quarter worth $199,000. Finally, Virtu Financial LLC purchased a new stake in Cardlytics during the fourth quarter valued at $219,000. Institutional investors own 68.10% of the company’s stock.

Cardlytics Stock Performance

CDLX opened at $3.80 on Thursday. The company has a 50 day simple moving average of $5.58 and a two-hundred day simple moving average of $8.95. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $185.38 million, a P/E ratio of -0.89 and a beta of 1.68. Cardlytics, Inc. has a 1-year low of $2.89 and a 1-year high of $20.52.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.12. Cardlytics had a negative return on equity of 17.96% and a negative net margin of 50.21%. The business had revenue of $69.64 million during the quarter, compared to analyst estimates of $75.39 million. During the same quarter in the prior year, the business posted ($0.57) EPS. Cardlytics’s revenue for the quarter was down 9.2% compared to the same quarter last year. Equities analysts forecast that Cardlytics, Inc. will post -1.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CDLX shares. Craig Hallum cut Cardlytics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Lake Street Capital lowered shares of Cardlytics from a “buy” rating to a “hold” rating and cut their target price for the company from $18.00 to $5.00 in a research report on Thursday, August 8th. Needham & Company LLC downgraded shares of Cardlytics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Northland Capmk downgraded shares of Cardlytics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Bank of America cut Cardlytics from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $4.00 to $3.50 in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.50.

Insider Activity at Cardlytics

In other Cardlytics news, CFO Alexis Desieno sold 7,451 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $7.95, for a total value of $59,235.45. Following the completion of the transaction, the chief financial officer now directly owns 6,898 shares in the company, valued at approximately $54,839.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Alexis Desieno sold 7,451 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $7.95, for a total value of $59,235.45. Following the transaction, the chief financial officer now owns 6,898 shares of the company’s stock, valued at $54,839.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Hollmeyer Lynton sold 5,956 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $7.95, for a total transaction of $47,350.20. Following the transaction, the insider now directly owns 78,593 shares of the company’s stock, valued at $624,814.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,613 shares of company stock valued at $362,840. 4.40% of the stock is owned by company insiders.

Cardlytics Company 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.