Bank of New York Mellon Corp Grows Holdings in Cardlytics, Inc. (NASDAQ:CDLX)

Bank of New York Mellon Corp increased its stake in Cardlytics, Inc. (NASDAQ:CDLX) by 15.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,924 shares of the company’s stock after buying an additional 18,179 shares during the period. Bank of New York Mellon Corp owned about 0.28% of Cardlytics worth $1,116,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Canton Hathaway LLC increased its position in shares of Cardlytics by 95.7% in the 2nd quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock worth $37,000 after purchasing an additional 2,200 shares during the last quarter. Banco Santander S.A. acquired a new stake in Cardlytics during the first quarter valued at approximately $199,000. Clear Street Markets LLC acquired a new stake in Cardlytics during the fourth quarter valued at approximately $199,000. Virtu Financial LLC bought a new position in Cardlytics during the 4th quarter worth approximately $219,000. Finally, Olympiad Research LP acquired a new position in shares of Cardlytics in the 4th quarter worth approximately $247,000. 68.10% of the stock is owned by institutional investors and hedge funds.

Cardlytics Stock Down 5.4 %

Cardlytics stock opened at $3.67 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.77 and a current ratio of 1.77. Cardlytics, Inc. has a one year low of $2.89 and a one year high of $20.52. The company has a 50-day simple moving average of $5.33 and a 200-day simple moving average of $8.86. The firm has a market capitalization of $179.03 million, a P/E ratio of -0.83 and a beta of 1.68.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Needham & Company LLC lowered Cardlytics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Craig Hallum cut shares of Cardlytics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Bank of America lowered shares of Cardlytics from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $4.00 to $3.50 in a report on Thursday, August 15th. Lake Street Capital lowered shares of Cardlytics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $18.00 to $5.00 in a research note on Thursday, August 8th. Finally, Northland Securities cut shares of Cardlytics from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $7.00 to $5.00 in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Cardlytics currently has an average rating of “Hold” and an average price target of $7.50.

Insider Activity at Cardlytics

In other Cardlytics news, Director Scott A. Hill purchased 40,000 shares of Cardlytics stock in a transaction on Monday, August 12th. The stock was bought at an average price of $3.58 per share, for a total transaction of $143,200.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $143,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Scott A. Hill purchased 40,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $3.58 per share, for a total transaction of $143,200.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $143,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Hollmeyer Lynton sold 5,956 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 transaction of $47,350.20. Following the completion of the sale, 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. Insiders have sold a total of 43,613 shares of company stock worth $362,840 in the last three months. 4.40% of the stock is owned by company insiders.

About Cardlytics

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.